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http://www.archive.org/details/accountantsguideOOgottrich 


ACCOUNTANT'S  GUIDE 


FOR 


EXECUTORS,    ADMINISTRATORS,    ASSIGNEES, 
RECEIVERS    AND    TRUSTEES 


BY 


FRANCIS    GOTTSBERGER,   C.  P.  A. 


NEW     YORK 
GEORGE    G.    PECK,    Publisher 

117    CHAMBERS    STREET 


hf^ 


t'?^ 


.^<i&'^ 


SPREGI^LS 


Entered  according  to  Act  of  Congress,  in  the  year  1902, 

By  FRANCIS  GOTTSBERGER, 

In  the  Office  of  the  Librarian  of  Congress,  at  Washington,  D.  C. 


CONTENTS. 


PAGE. 

Preface 3 

General  remarks , 5 

Provisions  of  Wills 6 

Complications 9 

Executors,  instructions  as  to  the  keeping  of  the  account. 14 

Form  of  Cash  Book 22 

Trustees 26 

Administrators  with  the  will  annexed 25 

Administrators 26 

Receivers 26 

Assignees '. 27 

Check  Book 31 

Journal  entries 61 

Ledger 99 

Accounting  before  the  Surrogate 127 

Decree  of  distribution 165 

Compound  interest  tables 177 

Carlisle  life  table 183 

Table  I,  increase  of  $1  00  compounded 184 

Examples,  Table  1 185 

Table  II,  present  value  of  $1.00  per  annum 186 

, Examples,  Table  II 187 

Table  III,  annuity  payable 188 

Examples,  Table  III 189 

Table  IV,  increase  of  $1. 00  per  annum 190 

Examples,  Table  IV 191 

Table  V,  present  value  of  $1.00 195 

Examples,  Table  V 196 


PREFACE, 


There  appears  to  be  a  general  want  of  knowledge  on  the  part  of 
persons  who  may  be  appointed  to  take  care  of  estates,  as  to  the  proper 
manner  of  keeping  their  accounts  of  receipts  and  disbursements,  so  that 
when  called  upon  to  present  a  statement  of  their  proceedings  to  a  court 
to  be  adjudicated  upon,  they  are  unable  to  do  so,  in  a  plain  and  intelli- 
gible form,  which  will  give  all  the  information  they  may  be  required  to 
furnish. 

The  necessity  for  a  publication,  which  will  impart  general  informa- 
tion on  the  subject,  is  apparent  and  for  this  reason  this  work  is  presented 
to  the  public,  not  that  it  claims  to  give  all  the  information  that  may  be 
required  from  time  to  time  in  keeping  and  presenting  the  accounts  of  an 
estate,  but,  for  the  purpose  of  plainly  showing  how  the  accounts  of  a 
certain  estate  may  be  kept  in  double  entry  form  of  bookkeeping  and  the 
form  of  presenting  the  accounts  of  such  an  estate  before  the  court  to  be 
passed  upon. 

It  would  not  be  possible  to  present  in  the  accounts  of  any  one 
estate  all  the  complications  that  may  arise  in  the  care  of  many  estates, 
therefore  it  seems  probable  that  by  showing  the  manner  of  keeping  the 
accounts  of  a  certain  estate,  the  proper  manner  of  meeting  complications 
that  may  arise  in  the  care  of  some  other  estate  would  suggest  itself  to 


the  party  in  charge  of  the  accounts  of  such  estate.  It  is  not  the  purpose 
of  this  work  to  deal  with  the  legal  complications  which  may  arise  in  the 
care  of  an  estate,  excepting  so  far  as  stating  the  obligations  of  an  executor 
etc.,  in  the  matter  of  his  duties  of  keeping  his  accounts  and  presenting 
the  same  in  proper  form  before  the  court  for  adjudication.  The  legal 
forms  outside  of  the  mere  accounts,  have  been  made  in  accordance  with 
the  requirements  of  the  estate  presented. 

The  accounting  before  the  Surrogate  is  prepared  in  accordance 
with  the  forms  in  use  in  the  State  of  New  York,  but  there  is  no  doubt 
that  the  same  method  would  be  accepted  in  any  court  in  the  United 
States  as  a  proper  form  of  accounting  before  the  court,  subject  to  such 
modification  as  a  case  might  require. 

The  system  of  the  Journal  entries  are  somewhat  different  from 
those  in  use  in  general  mercantile  bookkeeping  but  they  are  easily 
understood  and  appear  to  be  much  less  complicated. 

For  the  purpose  of  affording  information  in  regard  to  the  accum- 
ulations of  moneys,  compound  interest  tables  have  been  introduced,  with 
examples  showing  the  working  of  the  same  in  relation  to  sinking  funds 
and  similar  matters. 

THE    AUTHOR. 
February,  igos. 


ar  THE   ' 
VNiyg«S<TY    1 


ACCOUNTANTS   GUIDE 

FOR   EXECUTORS,    ADMINISTRATORS,    ASSIGNEES, 
RECEIVERS   AND   TRUSTEES. 


The  work  of  the  Public  Accountant  is  varied.  He  is  called  in  to 
make  periodical  audits  of  the  books  of  corporations,  to  examine  the  books 
and  accounts  of  various  kinds  of  business,  to  define  the  interests  of 
partners,  to  examine  into  fire  losses  on  merchandise,  to  systematize  the 
books  of  a  business  and  other  kindred  work ;  such  work  may  be  called 
private,  so  far  as  not  requiring  the  presentation  of  the  results  of  such  an 
examination  in  court ;  but  there  are  branches  of  accounting  work  which 
come  directly  under  the  supervision  of  and  adjustment  by  the  courts,  as 
for  example,  proceedings  of  and  reports  by  executors,  trustees,  adminis- 
trators, receivers  and  assignees  ;  all  of  whom  are  appointed  by  or  receive 
their  authority  from  the  courts  and  all  of  whom  are  obliged,  if  called 
upon,  to  render  to  the  courts  an  account  of  their  actions. 

Many  persons  are  appointed  to  act  as  executors,  administrators, 
&c.,  who  have  but  little  knowledge  of  the  duties  imposed  upon  them,  es- 
pecially as  to  the  manner  of  keeping  their  accounts  and  preparing 
reports  thereof  for  presentation  in  court.  The  necessity  of  such  knowl- 
edge becomes  apparent  when  they  are  called  upon  to  present  a  report  of 
their  proceedings  in  court,  to  be  passed  upon  as  to  the  correctness  of  the 
same,  and  obtaining  the  consent  of  the  court  to  be  discharged  from  the 
trust  imposed  upon  them. 


For  this  reason,  it  seems  to  me  that  an  explanation  of  the  manner 
of  keeping  the  accounts  of  an  estate,  under  the  care  of  an  executor, 
administrator,  trustee,  receiver  or  assignee,  would  be  of  service,  not  only 
for  their  own  satisfaction  and  facility  in  preparing  a  report,  but  also  for 
the  information  of  legatees  or  creditors,  who  may  be  interested  in  an 
estate  and  have  the  right  to  inquire  into  the  acts  of  the  executor,  trustee, 
&c.,  in  relation  to  his  administration  thereof. 

In  order  to  show  the  importance  and  necessity  of  an  executor 
keeping  a  correct  account  of  his  administration  of  an  estate,  especially  as 
to  the  receipts  of  moneys  coming  into  his  possession,  whereby  he  can 
show  definitely  the  sources  from  which  such  moneys  were  derived,  but 
also  of  his  disbursements  of  moneys  belonging  to  the  estate,  in  order  that 
he  can  readily  show  the  reason  and  purpose  of  such  disbursements,  so 
that  they  may  be  classified  under  their  proper  headings  in  his  account 
when  filed  in  court,  the  following  instances  of  the  terms  or  provisions  of 
different  wills  are  given,  all  of  which  have  come  under  the  observation  of 
the  writer  by  reason  of  his  having  kept  the  accounts  of  the  several 
estates  or  prepared  the  accounts  of  the  executor,  administrators  or 
trustees  for  filing  in  court 

The  estate  may  be  ordered  to  be  divided  into  equal  shares,  the 
income  of  each  share  to  be  paid  to  a  certain  beneficiary  during  his  or  her 
life  and  at  the  death  of  the  beneficiary,  the  principal  to  be  paid  to  the 
children  of  such  beneficiary  or  other  legal  heirs,  if  there  be  no  issue  sur- 
viving such  beneficiary. 


The  estate  may  be  ordered  to  be  divided  into  unequal  shares,  the 
income  of  one  share  to  be  paid  to  a  certain  beneficiary  during  his  or  her 
Hfe  and  at  his  or  her  death,  the  principal  to  form  a  part  of  the  estate  and 
to  be  divided  in  such  form  as  the  terms  of  the  will  may  provide. 

The  estate  may  embrace  a  business  owned  by  the  testator  and 
the  will  may  direct,  that  such  business  shall  continue  to  be  carried  on 
by  the  executor  for  the  benefit  of  the  widow  of  the  testator. 

The  will  may  direct  that  a  certain  sum  of  money  shall  be  paid 
annually  to  a  beneficiary  during  his  or  her  life,  such  sum  of  money  being 
derived  from  the  income  or  rent  of  a  certain  named  piece  of  real  estate. 

The  will  may  direct  that  a  certain  named  sum  of  money  shall  be 
set  apart  and  invested,  the  income  thereof  to  be  paid  to  a  certain  named 
beneficiary  during  his  or  her  life,  and  at  his  or  her  death,  the  principal 
to  be  divided  among  other  named  beneficiaries  or  their  heirs. 

The  will  may  direct  that  a  certain  share  of  the  estate  shall  be  set 
apart  to  be  held  in  trust  for  the  benefit  of  two  minors,  a  brother  and 
sister,  and  further  provide  that  if  either  of  them  shall  die  before  attaining 
majority,  leaving  no  issue,  the  survivor  shall  inherit  the  share  of  the  one 
dying. 

An  estate  may  embrace  among  its  assets,  a  share  in  an  undivided 
estate,  being  under  the  control  of  the  executors  or  trustees  under  the 
will  of  the  testator  of  such  undivided  estate. 


A  will  may  direct  that  a  certain  named  sum  shall  be  paid  yearly 
to  the  widow  of  the  testator  out  of  the  annual  income  of  the  estate,  and 
the  widow  may  refuse  to  accept  the  terms  of  the  will  and  claim  her  right 
of  dower  and  have  the  same  allowed  to  her. 

In  some  instances,  the  income  of  the  estate  may  be  payable  to 
certain  beneficiaries  during  life,  with  the  right  to  them  of  disposing  by 
will  the  principal  at  their  death. 

In  some  instances,  the  principal  of  the  estate  may  consist  of  im- 
proved real  estate,  subject  to  liens  secured  by  bond  and  mortgage,  the 
interest,  taxes  and  expenses  to  be  paid  from  the  rentals  of  the  property  ; 
a  fire  may  occur  and  some  of  the  buildings  may  be  damaged  to  an 
amount  so  large  that  the  mortgagee  may  demand  the  custody  of  the 
amount  received  for  insurance,  pending  the  repairs  to  the  buildings. 

The  executor  or  executors  may  die,  leaving  no  one  legally  en- 
titled to  take  charge  of  the  estate  and  the  court  may  appoint  an  adminis- 
trator with  the  will  annexed. 

A  will  may  provide  that  a  certain  named  amount  of  designated 
state,  railroad  or  other  corporate  bonds  shall  be  purchased  by  the  exec- 
utor, to  be  held  in  trust,  the  income  thereof  to  be  paid  to  a  certain  named 
beneficiary  during  his  or  her  life  and  at  the  death  of  the  named  benefic- 
iary, the  income  to  be  paid  to  another  named  beneficiary  during  his  or 


8 


her  life ;  at  the  death  of  the  last-named  beneficiary  the  principal  to  be 
divided  among  the  heirs  of  the  testator. 

The  foregoing  examples  of  the  conditions,  that  may  arise  in  the 
course  of  the  administration  of  an  estate,  give  very  good  and  solid  rea- 
sons why  an  executor  should  be  careful  in  keeping  the  accounts  of  the 
estate  intrusted  to  his  care  in  a  plain  and  lucid  manner. 

It  is  not  the  object  of  this  treatise  to  deal  with  the  legal  aspects, 
which  may  arise  in  the  course  of  the  administration  of  an  estate ;  but 
experience  has  shown,  that  the  proper  keeping  of  the  accounts  of  an  es- 
tate is  of  great  assistance  to  a  lawyer,  who  may  be  called  upon  to  advise 
an  executor,  when  he  is  confronted  with  complications  arising  in  the 
course  of  his  administration  of  an  estate. 

The  importance  of  an  executor  keeping  his  accounts  in  a  proper 
manner  is  exemplified  by  the  following  situations  that  have  arisen  in 
some  of  the  instances  heretofore  alluded  to. 

The  income  of  a  share  of  an  estate  was  payable  to  a  beneficiary 
during  her  life,  the  principal  of  such  share  going  to  her  children  at  her 
death ;  the  estate  had  not  as  yet  been  divided  at  the  time  of  Jier  death, 
the  executors  dividing  the  income  of  the  whole  estate  among  the  bene- 
ficiaries, in  the  shares  as  designated  by  the  will  in  the  same  proportion 
as  if  it  had  been  divided.  In  keeping  the  accounts  of  the  estate  the 
executors  had  carried  to  the  income  account,  all  interest  due  and  pay- 


able,  whether  the  same  had  been  collected  or  not;  but  the  beneficiaries 
were  only  paid  the  income  actually  received  or  collected,  the  conse- 
quence being,  that  each  beneficiary  was  credited  on  the  books  of  the 
estate  with  a  larger  amount  of  income  than  had  been  paid  to  him  or  her. 
When  the  beneficiary  alluded  to  died,  she  left  a  will  bequeathing  to  her 
husband  the  income  belonging  to  her  share  which  had  accrued,  but  which 
had  not  been  paid  to  her.  In  the  meantime,  it  was  found  that  the  interest 
due  on  several  bonds  and  mortgages  had  not  been  paid  at  maturity,  and 
eventually  foreclosure  suits  were  instituted,  and  the  several  pieces  of 
property  were  bought  in  by  the  executors  for  the  estate,  title  being 
taken  in  their  names,  as  executors.  The  properties  were  held  for  some 
time  and  finally  were  all  sold,  some  realizing  a  gain  over  the  amount  of 
the  original  loan,  plus  the  interest  due  and  unpaid  and  the  foreclosure 
expenses;  others  were  sold  at  a  price  less  than  the  total  amount  of  the 
original  loan  plus  the  interest  due  and  unpaid  and  the  expenses  attend- 
ing the  foreclosure  proceedings. 

The  husband  of  the  beneficiary,  being  entitled  to  the  accrued  and 
unpaid  income  belonging  to  his  deceased  wife,  the  late  beneficiary,  called 
upon  the  executors  for  an  accounting  by  them  to  him  for  such  accrued 
and  unpaid  income ;  it  can  readily  be  seen  that  if  the  executors  had  not 
kept  proper  accounts  of  their  administration  of  the  estate,  that  under  the 
above  circumstances  it  would  have  been  a  very  difficult,  if  not  an  im- 
possible task,  for  them  to  have  presented  a  true  statement  of  the 
accrued  and  unpaid  income  willed  by  the  late  beneficiary  to  her  husband. 


10 


In  the  same  estate  it  was  shown,  that  the  books  had  treated 
as  income  all  the  rentals  received  from  the  several  pieces  of  property 
which  had  been  bought  in  under  foreclosure  proceedings,  whereas, 
a  certain  portion  of  the  so  called  cost  of  the  several  pieces  of  property 
belonged  to  accrued  income  prior  to  the  foreclosure  proceedings  and 
not  to  the  principal  of  the  estate^  as  it  had  been  treated  on  the  books  of 
the  estate. 

In  another  case,  a  share  of  an  estate  was  bequeathed  to  a  brother 
and  sister,  both  minors,  the  income  thereof  to  be  divided  equally  and, 
used  for  their  support  and  maintenance,  until  they  arrived  at  their  ma- 
jority ;  in  case  of  either  dying  before  reaching  majority  without  leaving 
issue,  the  share  of  the  one  so  dying  to  be  inherited  by  the  survivor. 
The  income  belonging  to  the  sister  was  entirely  consumed  in  her  sup- 
port, education,  etc.,  while  that  belonging  to  the  brother  was  only  par- 
tially used  for  the  same  purpose.  The  sister  died  before  reaching  her 
majority,  leaving  no  issue,  the  brother  being  at  that  time  about  seven- 
teen years  of  age.  Among  the  assets  of  the  share  belonging  to  the 
brother  and  sister  equally,  was  a  share  in  an  undivided  estate  belonging 
originally  to  the  maternal  grandmother.  The  share  in  the  undivided 
estate  consisted  of  real  estate,  the  rentals  from  which  were  accounted 
for  by  the  executors  or  trustees  of  the  undivided  estate.  After  the  death 
of  the  sister,  some  of  the  real  estate  belonging  to  the  undivided  estate 
was  sold  and  the  shares  belonging  to  the  sister  and  brother  received  by 
the  trustees  and  by  them  invested  in  bonds,  etc.     When   the  brother 


11 


attained  his  majority  an  accounting  was  made  to  him.  The  account  em- 
braced the  receipts  and  disbursements  of  the  share  of  the  sister  up  to  the 
time  of  her  death,  including  all  that  was  received  from  the  share  in  the 
undivided  estate,  the  receipts  of  the  share  of  the  sister  in  the  hands  of 
the  executors  and  trustees  at  the  time  of  her  death  to  the  date  of  their 
accounting,  the  receipts  and  disbursements  of  the  share  of  the  brother  to 
the  date  of  his  majority;  including  all  receipts  from  the  undivided  estate 
and  the  income  thereof;  and  showed  the  balance  of  income  accrued  and 
not  used  for  his  support  to  the  date  of  his  majority;  also  there  was 
accounted  for  the  moneys  received  from  the  undivided  estate  belonging 
to  the  sister,  since  the  time  of  her  death  and  the  income  received  thereon. 

In  another  case  the  estate  consisted  mainly  of  improved  real 
estate,  the  income  from  which  was  to  be  paid  to  the  widow  of  the  testa- 
tor during  her  life;  the  debts  owed  by  the  testator  exceeded  the  amount 
of  the  personal  estate.  Instead  of  selling  some  of  the  real  estate  for  the 
purpose  of  paying  the  debts  of  the  testator,  the  widow  (she  being  an 
executrix  of  the  estate)  allowed  the  income,  to  which  she  was  entitled, 
to  be  used  for  that  purpose. 

One  of  the  buildings  belonging  to  the  estate  was  damaged  by  fire 
to  the  amount  of  some  ^40,000.00,  which  was  covered  by  insurance. 
There  was  a  mortgage  on  the  property;  and  in  accordance  therewith,  the 
amount  received  for  insurance  was  payable  to  the  mortgagee,  which  was 
a  Trust  Company,  pending  the  rebuilding ;  all  of  the  insurance  money 


12 


with  the  exception  of  about  $3,000.00  was  paid  to  the  Trust  Company ; 
the  $3,000.00  was  received  by  the  executors  and  expended  by  them  in 
the  care  of  the  estate ;  one  of  the  executors  fraudulently  obtained  from 
the  Trust  Company  about  $25,000.00  which  he  spent.  When  the  con- 
tractor, who  was  doing  the  repairs,  was  to  be  paid  there  was  no  money 
with  which  to  pay  him.  The  widow,  to  whom  the  estate  was  indebted 
for  income,  not  received  by  her,  made  good  the  deficiency  by  borrowing 
from  the  Trust  Company  the  amount  abstracted,  giving  as  security  a 
lien  on  the  amount  owed  to  her  by  the  estate.  When  the  accounts  of 
the  executors  were  filed  before  the  Surrogate,  these  complications  had 
to  be  met  in  such  manner,  that  the  interests  of  all  the  parties  were 
protected. 

In  another  case,  an  estate  was  divided  between  a  brother  and 
sister,  the  income  payable  to  them  during  their  lives,  and  at  death  to 
their  issue;  but  the  widow  of  the  testator  was  to  receive  the  sum  of 
$6,000.00  per  annum  for  life.  The  estate  consisted  of  personal  property 
and  real  estate. 

The  brother  and  sister  were  absolute  heirs  of  another  estate,  con- 
sisting of  personal  property  and  real  estate.  It  was  decided  to  improve 
some  of  the  real  estate  belonging  to  the  father's  estate;  as  there  was  not 
enough  personalty  in  that  estate  to  pay  for  the  improvement,  the  brother 
and  sister  each  contributed  from  their  shares  of  personalty  in  the  other 
estate,  about  $60,000.00  each  towards  the  improvement  of  the  father's 


13 


real  estate.  After  a  time  the  sister  wanted  some  of  her  money  for  other 
purposes,  and  a  loan  was  obtained  on  the  father's  estate  for  $25,000.00, 
which  was  paid  to  the  sister,  she  being  charged  with  tht;  interest  thereon. 
A  short  time  after,  the  brother  died,  leaving  issue,  and  the  accounts  of 
the  estate  v/ere  filed  before  the  Surrogate,  to  be  passed  upon.  The  in- 
come of  the  father's  estate  did  not,  after  payingthe  widow  her  allowance 
of  $6,000.00  per  annum,  amount  to  a  sufficient  sum  to  pay  interest  on  the 
moneys  advanced  by  the  brother  and  sister.  The  books  of  the  estates, 
after  the  death  of  the  brother,  had  to  be  placed  in  such  form  as  to  give 
definite  information  regarding  the  rights  of  the  children  of  the  brother. 

In  explaining  the  methods  of  keeping  the  accounts  01  an  estate, 
it  is  necessary  to  show  the  duties  of  executors,  trustees,  administrators, 
receivers  and  assignees  ;  and  these  will  be  dealt  with  under  their  several 
headings. 

EXECUTORS. 

Executors  are  named  in  the  last  Will  and  Testament  of  a 
deceased  person,  when  the  Will  is  probated  by  the  Surrogate,  and,  the 
executor  has  qualified  in  accordance  with  law ;  letters  testamentary  are 
issued  to  him,  which  give  him  authority,  to  take  charge  of  the  estate 
and  conduct  the  affairs  of  the  same  in  accordance  with  the  terms  of  the 
Will.  When  there  is  any  question  as  to  the  meaning  thereof,  it  is  his 
duty  to  consult  legal  counsel,  as  it  may  be  necessary  for  the  Court  to 
pass  upon  and  decide  as  to  the  meaning  or  intent  of  the  testator ;  in 


14 


many  instances  there  are  questions  arising  in  relation  to  the  administra- 
tion and  care  of  an  estate,  wherein  legal  advice  should  be  obtained  be- 
fore action  is  taken  by  the  executor. 

One  of  the  first  questions  calling  for  legal  advice  is,  whether  the 
estate  is  subject  to  an  inheritance  tax.  There  are  laws  that  impose  an 
inheritance  tax,  which  have  been  enacted  by  the  States  of  New  York, 
New  Jersey,  Connecticut  and  the  United  States  Congress.  These  laws 
place  the  burden  of  paying  the  tax  upon  the  executor  of  an  estate ;  for 
the  reason,  that,  if  he  should  divide  the  assets  of  an  estate  in  accordance 
with  the  terms  of  the  will,  without  having  paid  the  inheritance  tax  (if  the 
estate  should  be  subject  thereto)  he  becomes  personally  liable  for  the 
amount  of  such  tax  and  would  be  called  upon  to  pay  it,  and,  have  to  take 
his  chances  of  recovering  the  amount  of  the  same  from  the  heirs  or  leg- 
atees to  whom  he  may  have  paid  over  the  assets  of  the  estate. 

After  an  executor  has  qualified,  his  first  duty  is  to  prepare  an 
inventory  of  the  personal  property  of  the  estate,  that  has  come  into  his 
possession,  and  file  the  same  in  the  court  of  the  Surrogate  wherein  the 
will  was  probated.  In  preparing  the  inventory,  the  executor  should  show 
as  far  as  possible,  a  full  description  of  the  property,  its  nature,  its  actual 
cost  or  nominal  value  ;  this  amount  should  be  placed  in  a  column  headed 
"  Nominal  Value  ;  "  there  should  be  another  column  headed  "  Appraised 
Value;"  in  this  column  is  placed  the  value  of  each  item,  as  appraised  by 
the  appraisers  appointed  for  that  purpose. 


15 


As  the  executor  is  charged  with  receiving  the  amount  of  the  ap- 
praised value  of  the  items  embraced  in  the  inventory  as  appraised,  care 
should  be  taken  that  the  value  of  the  several  items  be  not  overstated,  for 
the  reason,  that  in  the  event  of  selling  the  same,  the  amount  realized 
might  be  less  than,  the  appraised  value  as  stated  in  the  inventory;  when 
the  executor  files  an  account  of  his  proceedings,  he  would  have  to  show 
an  apparent  loss  on  the  transaction,  implying  a  careless  or  injudicious 
act  on  his  part,  whereas,  the  fault  would  not  be  his,  but  the  over  valua- 
tion of  the  item  as  appraised.  On  the  other  hand,  any  increase  of  value 
received  over  and  above  the  appraised  value,  would  be  accounted  for  by 
the  executor  in  his  account  when  filed  in  the  Court,  so  that  the  estate 
would  not  suffer  any  loss. 

It  is  very  important,  that  the  books  of  an  executor  should  be  able 
to  show  distinctly  the  principal  of  an  estate.  In  arriving  at  the  amount 
of  the  principal  it  should  be  understood  that  all  the  property  belonging 
to  the  testator  at  the  time  of  his  or  her  death,  after  payment  of  all  debts 
owed  by  him  or  her  at  his  or  her  death,  forms  the  principal  of  an  estate. 
There  should  be  included  in  the  principal  all  interest  that  has  accrued  to 
the  date  of  the  death  of  the  testator,  also  the  amount  of  any  dividend 
received  after  the  death  of  a  testator  that  may  have  been  declared  as 
being  paid  from  the  profits  made  prior  to  the  death  of  a  testator. 

The  books  should  also  be  able  to  definitely  show  what  the  income 
of  an  estate  may  be  comprised  of,  the  source  from  whence  it  is  derived 


16 


and  the  disposition  thereof,  especially  when  the  income  of  an  estate  is 
divisable  among  several  beneficiaries  during  their  lives,  as  in  the  event 
of  the  death  of  a  beneficiary,  the  income  accrued  to  the  date  of  the  death 
of  such  beneficiary  belongs  to  the  estate  of  such  beneficiary  and  is  pay- 
able as  he  or  she  may  direct,  or  to  his  or  her  heirs. 

In  the  event  of  a  beneficiary  being  a  minor,  the  importance  of  the 
executor  being  able  to  show  definitely  the  amount  of  the  income,  belong- 
ing to  such  minor,  is  apparent;  as  the  executor  can  be  called  upon  by  such 
minor,  upon  attaining  his  or  her  majority,  to  account  to  him  or  her  for 
the  share  of  income  he  or  she  may  have  been  entitled  to  from  the  estate. 

The  best  manner  in  which  to  have  the  books  of  an  estate  kept  is 
on  the  double  entry  system ;  this  will  require  the  services  of  a  skilled 
accountant,  but  only  from  time  to  time,  for  the  executor,  by  using  care  can 
be  enabled  to  keep  the  accounts  of  an  estate  in  such  form,  that  a  skilled 
accountant's  services  need  only  be  called  upon  once  or  twice  a  year. 

It  should  be  understood  that  the  moneys  received  by  an  executor 
do  not  belong  to  him,  but  are  trust  moneys  for  which  he  must  account. 
For  that  reason  the  executor  should  open  a  bank  account  in  the  name  of 
the  estate;  he  should  deposit  therein  all  moneys  belonging  to  the  estate; 
when  entering  the  deposit  in  the  check  book,  name  the  date  of  the  de- 
posit, the  name  of  the  party  from  whom  the  money  may  be  received  and 
the  nature  of  or  cause  for  such  payment.     For  instance:    **  Deposit  May 


17 


4th,  1 901,  James  Jenkins,  interest  on  B.  &  M.,  due  May  ist,  $500.00;  "  or 
"Deposit  Aug.  2nd,  1900,  20  coupons  U.  S.  bonds,  $10,00  each 
$200.00.'* 

By  making  deposits  in  the  bank  of  all  moneys  coming  to  the  es- 
tate, the  check  book  will  show  the  total  receipts  of  the  estate. 

All  payments  should  be  made  by  checks ;  enter  on  the  stub  of  the 
check  book,  the  number  of  the  check,  the  date  of  drawing  the  check, 
name  of  payee  and  the  description  or  the  nature  of  such  payment,  as  for 
instance:  "No.  i,  April  25th,  1900,  Smith  &  Jones,  Undertakers,  bill 
dated  March  25th,  $175.00." 

By  thus  depositing  all  moneys  belonging  to  the  estate  in  the  bank 
account  of  the  estate  and  by  making  all  payments  on  account  of  the  es- 
tate by  checks  on  the  same  bank  account  and  making  the  necessary 
entries  in  the  check  book,  the  executor  will  have  a  complete  record  of 
all  his  receipts  and  disbursements  in  his  check  book ;  and  a  skilled  ac- 
countant can  readily  frame  the  necessary  Journal  or  Ledger  entries  from 
the  entries  on  the  check  book. 

The  executor  should  be  careful  to  see  that  he  has  a  receipt  for 
all  moneys  paid  by  him  and,  preserve  the  same,  as  he  is  obliged  to  pro- 
duce a  receipted  voucher  for  payments  of  more  than  $20  00,  each  appear- 
ing in  his  account  as  filed;  in  case  of  the  loss  of  a  receipted  voucher,  a 
canceled  check  will  furnish  a  valid  substitute. 


18 


For  the  purpose  of  explaining  the  manner  of  keeping  the  accounts 
of  an  executor,  a  suppositious  estate  is  herein  presented,  showing  the 
will,  the  inventory  as  appraised,  a  copy  of  deposits  in  bank,  and  a  copy 
of  the  various  checks  drawn  against  the  deposits  in  bank,  also  the  entries 
in  a  Journal  which  entries  are  based  on  the  inventory  and  the  several 
entries  in  the  check  book,  giving  the  ledger  page  on  which  the  several 
accounts  appear,  a  copy  of  ledger  entries  showing  the  headings  of  the 
various  accounts  with  their  appropriate  entries  as  taken  from  the  journal, 
and  the  page  number  of  the  journal,  finally  a  full  statement  of  the  ac- 
count of  the  executor  as  filed  by  him  for  presentation  in  court. 

Of  course  it  is  understood  that  the  whole  of  the  accounts  are  fic- 
titious and  prepared  solely  lor  the  purpose  of  showing  how  the  accounts 
of  an  estate  representing  the  same  conditions  can  be  kept  in  a  plain 
and  lucid  manner.The  above  are  to  be  found  on  page  31  to  page  163. 

It  must  be  understood,  there  are  no  absolute  rules  that  can  be 
invariably  followed  in  keeping  the  books  of  an  estate,  each  condition 
depending  on  the  surroundings  thereof  For  a  proper  solution  of  the  man- 
ner of  making  the  entries  in  the  journal  and  ledger,  there  is  very  gen- 
erally an  absolute  necessity,  for  the  keeping  of  the  accounts  in  such 
manner,  as  to  definitely  show  the  amounts  of  principal  of  an  estate  and 
income  of  an  estate,  in  separate  accounts,  so  that  the  amount  of  each  can 
be  readily  arrived  at.  In  case  of  a  widow  of  a  testator  being  entitled  to 
her  dower  rights  in  an  estate,  it  becomes  necessary  to  show  the  amount 
of  principal  derived  from  real  estate,   in  an  account  separately,  also  a 


19 


separate  account,  showing  the  income  of  such  principal;  this  will  require 
the  keeping  of  an  account  to  show  the  amount  of  principal  derived  from 
personalty  and  another  account  showing  the  income  accruing  from  such 
principal.  If  the  executor  &c.  gives  the  full  details  of  the  source  of 
moneys  received  and  the  nature  of  and  cause  for  payment,  when  mak- 
ing his  entries  on  the  check  book,  the  skilled  accountant  can  readily  pre- 
pare the  proper  entries  to  be  made  on  the  journal  and  ledger,  which  will 
afford  all  the  information  that  may  be  required. 

In  some  instances  executors  &c.  may  be  placed  in  charge  of  an 
estate  of  so  small  an  amount,  that  it  would  not  be  practicable  to  keep  a 
separate  bank  account,  showing  the  receipts  and  disbursements  through 
the  check  book:  in  such  instances,  executors  &c.  should  procure  a  plain 
cash  book,  and,  enter  therein  statements  of  moneys  received  by  them, 
stating,  the  date,  from  whom  received,  the  nature  of  such  receipt,  and  the 
amount  received ;  on  the  opposite  page  of  the  book  entries  should  be 
made  of  all  payments  made  by  the  executor  &c.  on  account  of  the  estate, 
the  entries  showing  the  date  of  payment,  name  of  party  to  whom  pay- 
ment is  made,  nature  of  the  payment,  and  the  amount  thereof  For  the 
purpose  of  giving  some  general  information  as  to  the  manner  of  keeping 
such  a  cash  book,  entries  have  been  prepared  as  to  receipts  and  disburse- 
ments and  are  set  forth  on  two  pages,  headed  Cash  book,  immediately 
following  these  remarks.  In  making  entries  in  such  a  cash  book,  execu 
tors  &c.  should  be  careful  to  give  all  the  necessary  information  relating 
to  the  subject,  so  that  if  called  upon  to  present  an  account,  it  can  be 
readily  copied  from  such  book. 


80 


FORM   OF   CASH    BOOK. 


CASH    BOOK. 


ESTATE  OF   MARY  WILKINS. 


I90I 
Feb. 

2 

Received  from  Arthur  Smith,  3  months'  rent  of 

180  Everett  St.,  due  February  ist. 

175 

00 

May 

3 

Received   from  Eliza   Jones,  6   months'  interest 
on  Bond  and  Mortgage  for  $3,000.00,  due 

May   I  St, 

75 

00 

<i 

5 

Received  from  Arthur  Smith,  3  months'  rent  of 

180  Everett  St., 

175 

00 

Aug. 

8 

Received  from  Arthur  Smith,  3  months'  rent  of 

180  Everett  St., 

175 

00 

Nov. 

2 

Received  from  Eliza  Jones,  6  months'  interest  on 

Bond  and  Mortgage, 

75 

00 

tt 

4 

Received  from  Arthur  Smith,  3  months'  rent  of 

31 

180  Everett  St., 
Balance  of  cash  on  hand, 

175 

00 

850 

00 

1901 
Dec. 

168 

17 

1902 
Feb. 

2 

Received  from  Arthur  Smith,  3  months*  rent  of 

180  Everett  St., 

175 

00 

or  THt     ' 


UNIVERSITY    ) 


A^'*^^ 


1901 
Mar. 

Paid  Mary  Wilkins,  on  account  of  income, 

75 

00 

April 

<<         <(            «                    it                 « 

50 

00 

May 

(<         (<            (<                   <f                  « 

50 

00 

June 

((               ((                     i(                                  «                              <l 

50 

00 

July 

<(               (<                     tt                                 <l                              « 

50 

00 

Aug. 

<(               ((                     ((                                  «                               (i 

50 

00 

(( 

10 

"     Water  rates  on  house,  180  Everett  St., 

10 

00 

<( 

20 

"     John  Thomas,  plumber. 

4 

50 

Sept. 

I 

*'     Mary  Wilkins,  on  account  of  income. 

50 

00 

Oct. 

I 

i(         {(             <<                    <<                  tt 

50 

00 

u 

15 

"     Receiver  of  Taxes,  taxes  for  1900  on  house, 

180  Everett  St., 

142 

33 

Nov. 

I 

Paid  Mary  Wilkins,  on  account  of  income, 

50 

00 

Dec. 

I 

((         «             it                    «                   tt 

50 

00 

<( 

31 
2 

Balance  of  income  to  date, 

Paid   Mary  Wilkins,  balance  of  income  for  year 

168 

17 

850 

00 

1902 
Jan. 

1901, 

168 

17 

Feb. 

3 

Paid  Mary  Wilkins,  on  account  of  income, 

75 

00 

TRUSTEES. 

Trustees  are  persons  having  charge  of  property  belonging  to 
some  other  party  or  parties  ;  they  are  generally  appointed  by  the  court 
and  are  bound  by  the  terms  of  the  trust  over  which  they  are  to  have 
control.  In  many  instances  executors  are  authorized  by  the  terms  of  a 
will,  to  act  as  trustees  of  an  estate ;  in  such  cases  they  may  file  the  ac- 
counts of  their  proceedings  as  executors  and  therein  turn  over  to  them- 
selves as  trustees,  the  assets  of  an  estate,  to  be  cared  for  by  them  in 
accordance  with  the  terms  of  the  will.  The  keeping  the  accounts  of  a 
trustee  are  similar  to  those  of  an  executor ;  and  the  directions  as  to  the 
keeping  the  accounts  of  an  executor  are  all  that  is  necessary  to  be 
followed. 

ADMINISTRATORS   WITH   THE  WILL  ANNEXED. 

Administrators  with  the  will  annexed,  are  appointed  by  the  court 
where  there  are  no  executors  named  in  a  will,  or  when  executors  named 
in  a  will  decline  to  act  as  such  or  when  all  of  the  executors  may  have 
died.  Other  cases  might  arise  ;  but  they  would  be  from  a  legal  stand- 
point and  their  duties  would  be  in  accordance  with  the  terms  of  the  will. 

The  keeping  of  the  accounts  of  an  administrator  with  the  will  an- 
nexed, would  be  in  accordance  with  the  directions  for  keeping  the 
accounts  of  an  executor. 


2S 


ADMINISTRATORS. 

Adminisfrators  are  appointed  by  the  court,  when  a  person  dies 
leaving  no  will,  or  in  some  instances,  when  the  probate  of  a  will  is  con- 
tested a  temporary  administrator  is  appointed  pending  the  proceedings 
as  to  the  probate  of  a  will.  He  has  the  custody  of  the  personal  estate  of 
the  deceased  person,  he  is  obliged  to  file  an  inventory  ot  the  personal 
estate  that  he  receives,  in  the  same  form  as  an  executor  is  called  upon 
to  do.  He  generally  receives  instructions  at  the  time  of  his  appoint- 
ment, as  to  the  duties  he  is  expected  to  perform.  In  keeping  his  ac- 
counts he  should  follow  the  directions  herein  given  to  executors. 

RECEIVERS. 

Receivers  are  appointed  by  the  court,  to  take  charge  of  property 
that  may  be  in  dispute,  as  in  case  of  a  partnership,  where  a  partner  may 
make  application  for  the  appointment  of  a  receiver  pending  litigation  as 
to  the  interests  of  the  partners  in  the  property  of  the  partnership. 

Receivers  are  also  appointed  to  take  charge  ot  the  property  of  a 
corporation,  that  may  be  in  difficulty  as  to  its  financial  affairs  or  otherwise. 

It  is  the  duty  of  a  receiver  to  make  an  inventory  of  all  property 
that  may  come  into  his  possession  under  the  order  of  the  court  making 
the  appointment,  and  file  the  same  as  soon  as  practicable.  In  keeping 
the  account  of  a  receiver,  the  services  of  a  bookkeeper  are  generally  re- 
quired.    In  preparing  his  inventory,  the  services  of  a  skilled  accountant 


are  necessary  in  most  cases,  so  as  to  show  the  value  of  the  assets  compris- 
ing the  inventory  in  a  proper  form.  The  method  of  his  administration  is 
similar  to  that  of  an  assignee  and  by  referring  to  "Assignees"  further 
information  can  be  had, 

ASSIGNEES. 

Assignees  are  appointed  by  a  party  or  parties,  who  may  make  an  as- 
signment of  their  property  for  the  benefit  of  their  creditors.  Such  appoint- 
ment is  subject  to  the  approval  of  the  court,  which  will  at  the  same  time 
state  the  amount  of  the  bond  required  to  be  filed  with  the  court,  subject 
to  approval  thereby.  The  assignee  after  the  filing  of  his  bond  and  the 
approval  thereof,  enters  into  the  possession  of  the  assets  of  the  assignor 
or  assignors.  It  is  his  duty  to  prepare  an  inventory  of  all  property  com- 
ing into  his  possession,  in  which  he  must  state  in  detail  a  description  of 
all  such  property,  stating  the  quantity  and  estimated  value  thereof,  at  the 
same  time  giving  the  nominal  or  cost  value  thereof.  In  preparing  the 
inventory  the  assignee  is  not  bound  to  state  the  actual  value  of  the  prop- 
erty, but  only  its  estimated  value ;  so  it  is  better  for  him  not  to  place  too 
high  an  estimate  on  the  property,  as  in  case  the  property  has  to  be  sold 
at  a  less  value,  than  the  estimated  value  named  in  the  inventory,  it  might 
appear  that  the  assignee  had  been  derelict  in  his  duty  and  had  sacrificed 
the  property  to  the  detriment  of  the  creditors.  When  the  assignee  ren- 
ders his  account  for  adjudication  by  the  court,  he  is  required  to  state  the 
inventoried  value  of  the  property  coming  into  his  possession  and  the 


jn 


amount  received  by  him,  also,  expenses  incurred  by  him  in  the  adminis- 
tration of  the  assigned  property.  He  generally  receives  instructions  from 
the  court,  when  receiving  his  appointment,  as  to  the  nature  of  his  duties 
and  when,  in  doubt,  should  consult  counsel  as  to  the  manner  in  which  he 
should  act.  In  presenting  his  accounts  for  filing  in  court,  they  should 
be  presented  'in  schedule  form,  similar  to  those  shown  herein  in  the 
accounting  before  the  Surrogate,  only  the  headings  should  be  modified 
in  accordance  with  the  matter  to  be  presented. 


98 


CHECK   BOOK. 


» 


CHECK    BOOK. 


Deposited  in  Madison  Trust  Co. 

April  1,  1898, 
Balance  from  Sand  Hill  Bank, 


Deposit, 

May  3,  1898, 

40  U.  S.  Coupons,  $10.00,  each. 


James  Smith,  interest  on  B.  & 
M.,  due  May  1st, 


Julia  Carter,  interest  on  3.  &  M. 
due  May  1, 


Deduct  Checks,  Nos.  1  to  6, 
Carried  forward, 


875 


400 


375 


187 


1,837 


495 


20 


00 


00 


1,342 


50^ 
70 


00 


70 


No.  1. 

May  10,  1898. 

Geo.  Jones  &  Bro.,  Undertakers, 
bill,  March  28. 


No.  2. 

May  10,  1898. 
Jas.  Johnson,  flowers  for  funeral, 


No.  3. 

May  15,  1898. 

Smith  &  Jones,  legal  disburse- 
ments, proving  will,  and 
appraiser's  fees. 


No.  4. 

May  15,  1898. 

Eliza  Brown,  widow,  account  of 
income, 


No.  5. 

May  15,  1898. 

Geo.  Brown,  legatee,  account  of 
income, 


195 


00 


25 


00 


75 


00 


120 


00 


80 
495 


00 
00 


Zl 


CHECK    BOOK. 


Balance  brought  forward, 


Deduct  Checks,  Nos.  6  to  10, 
Carried  forward, 


1,342 


237 


1,105 


70 


05 


65 


No.  6. 

May  15,  1898. 

Juliet  Brown,  legatee,  account 
of  income, 


No.  7. 

May  15,  1898. 

Mary  Brown,  legatee,  account 
of  income, 


No.  8. 

May  25,  1898. 

Jones  &  Carroll,  coal  bill,  Feb. 
25th,  1898, 


No.  9. 

May  25,  1898. 

Dairy  Farm,  in  full  for  milk  to 
March  15th, 


No.  10. 

May  25,  1898. 

Brown    &    Co.,    Groceries,    to 
March  15th, 


CHECK    BOOK. 


Balance  brought  forward, 

Deposit, 

June  3,  1898. 

Mary  Jones,  interest  on  B.  &  M. 
due  June  1st, 


Deposit, 
July  20,  1898. 

Mutual  Savings  Bank, 
Amount  on  deposit, 
Interest  to  July  1st, 

Friends  Savings  Bank, 
Amount  on  deposit, 
Interest  to  July  1st, 


Deduct  Checks,  11  to  15, 

Carried  forward. 


1,105 


65 


250 


1,365 


3,500 

70 

3,500 
70 


8,495 


7,295 


1,200 


00 
05 


00 
00 

00 
00 
65 


50 


15 


No.  11, 

June  15,  1898. 

James  Calkins,  bill  for  Medical 
services  in  full, 


No.  12. 

July  25,  1898. 

Peter  Johnson,  loan  on  B.  &  M. 
onl8S.  95th  St.,  N.  Y.  City 
for  5  years,  interest  5%  pay- 
able January  25th  and  July 
25th, 


No.  13. 

August  1,  1898. 

Cash  for  petty  expenses  as  per 
memorandum. 


No.  14. 

August  15,  1898. 

Eliza  Brown,  widow,  account  of 
income, 


No.  15. 

August  15,  1898. 

Geo.  Brown,  legatee,  account  of 
income. 


85 


00 


7,000 


00 


10 


50 


120    00 


80^ 

7,295 


00 
50 


88 


CHECK    BOOK. 


Balance  brought  forward, 

Deposit, 
August  2,  1898.    , 
40  Coupons  U.  S.  $10.00  each. 


Eliza  Jenkins,  interest  on  B.   & 
M.,  due  August  1st, 


Deposit, 

September  3,  1898. 

Clara  A.  Ertland,  interest  on  B, 
&  M.,  due  September  1st, 


Deduct  Checks,  16  to  20, 

Carried  forward, 


1,200 

400 
200 

500 

15 

00 
00 

00 

2,300 
1,408 

15 
56 

891 

59 

No.  16. 

August  15,  1898. 

Juliet  Brown,  legatee,  account 
of  income, 


No.  17. 

August  15,  1898. 

Mary  Brown,  legatee,  account 
of  income, 


No.  18. 

September  14   1898. 

Bird  S.  Coler,  Comptroller  N.  Y. 
City,  N.  Y.  State,  Inheri- 
tance Tax,  less  rebate, 


No.  19. 

September  15,  1898. 

Eliza  Brown,  Widow,  account  of 
income. 


No.  20. 

September  15,  1898. 

Geo.  Brown,  legatee,  account  of 
income. 


80 


00 


80 


00 


1,048 


56 


120 


00 


80 
1,408 


00 
56 


34 


CHECK    BOOK. 


Balance  brought  forward, 

Deduct  Checks,  Nos.  21  to  25, 
Carried  forwaid, 


891 


610 


281 


59 

00 
59 


No.  21. 

September  15,  1898. 

Juliet   Brown,    legatee,  account 
of  income, 


No    22. 

September  15,  1898. 

Mary  Brown,  legatee,  account  of 
income. 


No.  23. 

October  15,  1898. 

Smith   &  Jones,  legal  services, 
proving  will,  &c., 


No.  24. 

October  15,  1898. 

Eliza  Brown,  widow,  account  of 
income, 


No.  25. 

October  15,  1898. 

Geo.   Brown,  legatee,  account  of 
income. 


80 


00 


80 


00 


250 


00 


120 


00 


80 
610 


GO 
00 


35 


CHECK    BOOK. 


Balance  brought  forward, 


Deposit, 

October  15,  1898. 

Smith  &  Jones,  proceeds  of  note 
of  James  Smithers  collected 
by  them,  amount  of  note, 

2,000.00 
Interest  to  Oct.,  1898,        200  00 

2,200.00 
Col.  fee,  220.00 


Deduct  Checks,  Nos.  26  to  30, 
Carried  forward. 


281 


1,980 


2,261 
445 


1,816 


59 


00 


59 

80 

79 


No.  26. 

October  15,  1898. 

Juliet  Brown,  legatee,  account 
of  income, 


No.  27. 

October  15,  1898. 

Mary  Brown,  legatee,  account 
of  income, 


No.  28. 

November  10,  1898. 

Eliza  Brown,  for  payments  on 
account  of  debts  due  by  her 
husband,  per  memorandum, 


No.  29. 

November  15,  1898. 

Eliza  Brown,  Widow,  account  of 
income, 


No.  30. 

November  15,  1898. 

Geo.  Brown,  legatee,  account  of 
income. 


36 


CHECK    BOOK. 


Balance  brought  forward, 

Deposit, 

November  2,  1898. 
40  U.  S.  Coupons,  $10.00  each, 

James  Smith,  interest  on  B.  &  M, 
due  November  1st, 

Julia  Carter,  interest  on  B.  &  M. 
due  November  1st, 

Cook  &  Brown,  proceeds  of  sale 
of  40  U.  S.  Bonds  at  118>^, 
47,250.00 
Less  ^  brok  ,  60  00 

Deduct  Checks,  Nos.  31  to  34, 
Carried  forward, 


1,815 


79 


400 


375 


187 


47,200 


49,978 
33,120 


00 


00 


50 


16,858 


00 
29 

00 
29 


No.  31. 

November  15,  1898. 

Juliet  Brown,    legatee,    account 
of  income. 


No.  32. 

November  15,  1898. 

Mary   Brown,    legatee,    account 
of  income. 


No.  33. 

November  15,  1898. 

Eliza  Thomas,  loan  on  B.  &  M. 
on  18  N.  89th  Street,  N.  Y. 
City  5  years,  interest  4>^% 
per  annum,  payable  May 
15th  and  Nov.  15th, 


No.  34. 

November  15,  1898. 

Martha  Elmer,  loan  on  B.  &  M. 
on  48  Bronson  St.,  N.  Y. 
City  5  years,  interest  5% 
per  annum  payable  May 
15th  and  Nov.  15th. 


60 


00 


60 


00 


25,000 


00 


8,000 
33,120 


00 
00 


9i 


CHECK    BOOK. 


Balance  brought  forward, 

Deposit, 

December  2,  1898, 

Mary  Jones,  interest  on  B.  &  M. 
due  Dec.  1st, 


Deduct  Checks,  Nos.  35  to  39, 
Carried  forward, 


16,858 


250 


17,108 
15,668 


1,440 


29 


00 
29 

00 
29 


No.  35. 

November  15,  1898. 

Susan  Abner,  loan  on  B.  &  M. 
on  23  St.  George  Avenue, 
Manhattan,  5  years,  interest 
^}^%  per  annum  payable 
May  15th  and  Nov.  15th, 


No.  36. 

November  30,  1898. 

Receiver  of  Taxes,  N.  Y.  City, 
personal  tax  as  per  bill, 


No.  37. 

December  15,  1898. 

Eliza  Brown,  widow,  account  of 
income. 


No.  38. 

December  15,  1898. 

Geo.   Brown,  legatee,  account  of 
income. 


No.  39. 

December  15,  1898. 

Juliet  Brown,  legatee,  account  of 
income, 


15,000 


00 


448 


00 


100 


00 


60 


00 


60^ 

15,668 


00 
00 


CHECK    BOOK. 


Balance  brought  forward, 

1,440 

29 

No.  40. 

Deposit, 

December  15,  1898. 

January  25,  1899. 

Mary   Brown,    legatee,    account 
of  income, 

60 

00 

Peter  Johnson,  interest  on  B,  & 

M.,  due  January  25th, 

175 

00 

1,615 

29 

Deduct  Checks,  Nos.  40  to  44, 

269 

00 
29 

No.  41. 
December  15,  1898. 

1,346 

Madison  Trust  Co.,  interest  on 

Evening  Post,  Advertising  Noti- 
ces, 

24 

50 

deposit  to  December  31st, 

'23 

87 

r 

Carried  forward, 

1,370 

16 

No.  42. 

December  15,  1898. 

Law  Journal,  Advertising  Noti- 
ces, 

24 

50 

No.  43. 

January  15,  1899. 

■ 

Eliza  Brown,  Widow,  account  of 

income. 

100 

00 

No.  44. 

January  15,  1899. 

George  Brown,  Legatee,  account 

of  income, 

60 

00 

269 

00 

89 


CHECK    BOOK. 


Balance  brought  forward, 

Deposit  Book  balanced, 
January  31st,  balance  as 

per  book,  1,310.16 

Check  No.  46,  not  in,  60.00 

1,250.16 

Deposit, 

February  3,  1899, 

Eliza  Jenkins,  interest  on  B.  &  M. 
due  February  1st, 

Deduct  Checks,  Nos.  45  to  49, 
Carried  forward, 


1,370 
200 

16  1 

00 
16 

00 
16 

1,570 

340 

1,230 

No.  45. 

January  16,  1899. 

Juliet  Brown,  legatee,  account  of 
income, 


No.  46. 

January  15,  1899. 

Mary  Brown,  legatee,  account  of 
income, 


No.  47. 

February  15,  1899. 

Eliza  Brown,  widow,  account  of 
income, 


No.  48. 

February  15,  1899. 

Geo.   Brown,  legatee,  account  of 
income. 


No.  49. 

February  15,  1899. 

Juliet  Brown,  legatee,  account  of 
income. 


60 


00 


60 


00 


100 


00 


60 


00 


60 
340 


00 
00 


40 


CHECK    BOOK. 


Balance  brought  forward, 

1,230 

16 

No.  50. 

Deposit, 

February  15,  1899. 

March  3,  1899. 

Mary   Brown,  Legatee,  account 
of  income, 

60 

00 

Clara  A.  Ertland, 

Interest  on  B.  &  M., 

500 

00 
16 

due  March  1st, 

1,730 

No.  51. 

Deduct  Checks,  Nos.  50  to  54, 

340 

00 
16 

March  15,  1899. 
Eliza  Brown,  Widow,  accoujit  of 

Carried  forward, 

l,3t0 

income, 

100 

00 

No.  52. 

March  15,  1899. 

George  Brown,  Legatee,  account 

of  income, 

60 

00 

No.  53. 

- 

March  15,  1899. 
Juliet  Brown,   Legatee,  account 

of  income, 

60 

00 

No.  54. 

March  15,  1899. 

Mary  Brown,   Legatee,  account 

of  income, 

60 

00 

340 

00 

41 


CHECK    BOOK. 


Balance  brought  forward, 

Deduct  Checks,  Nos.  55  to  59, 
Carried  forward, 


1,390 
316 


1,074 


16 

09 
07 


No.  55. 

March  31,  1899. 

Cash  for  petty  disbursements,  in- 
cluding rent  of  safe. 


No.  56. 

April  10,  1899. 

Eliza  Brown,  Executrix,  for  com- 
mission. 


No.  57. 

April  10,  1899. 

George  Brown,  Executor,  for  com- 
mission, 


No.  58. 

April  10,  1899. 

Eliza  Brown,  Widow,  balance  of 
income. 


No.  59. 

April  10,  1899. 

Juliet  Brown,  Legatee,  balance 
of  income, 


17    50 


117 


63 


117    63 


18 


00 


45 
316 


33 

09 


48 


..4 


CHECK    BOOK. 


W 


Balance  brought  forward, 

Deposit, 

May  1,  1899, 

James  Smith,  interest  on  B.  &  M. 

Julia  Carter,  interest  on  B.  &  M. 

Deposit 

May  16,  1899. 

Eliza  Thomas,  interest  on  B.  & 
M.,  due  May  15th, 

Susan   Abner,  interest  on  B.  & 
M.,  due  May  16th, 

Martha  Elmer,  interest  on  B.  & 
M.,  due  May  15th, 

Deduct  Checks,  Nos.  60  to  64, 
Carried  forward. 


1,074 

375 

187 

562 
337 

200 

07 

00 
50 

50 
50 
00 

2,736 
370 

57 

68 
89 

2,365 

No.  60. 

April  10,  1899. 

Juliet     Brown,      Legatee,     bal- 
ance of  income. 


No.  61. 

April  10,  1899. 

Mary     Brown,     Legatee,     bal- 
ance of  income, 


No.  62. 

May  15,  1899. 

Eliza  Brown,  Widow,  account  of 
income, 


No.  63. 

May  15,  1899. 

Geo.  Brown,  Legatee,  account  of 
income. 


No.  64. 

May  15,  1899. 

Juliet  Brown,  Legatee,  account 
of  income. 


45    34 


45 


34 


120 


00 


80 


00 


80 
370 


00 
68 


i8 


CHECK    BOOK. 


Balance  brought  forward, 

2,365 

89 

No.  65. 

Deposit, 

May  15,  1899. 

June  2,  1899, 

Mary   Brown,   Legatee,  account 
of  income, 

80 

00 

Mary  Jones,  interest  on  B.  &  M. , 

250 

00 

2,615 
440 

89 

00 

89 

Deduct  Checks,  Nos.  65  to  69, 

No.  66. 

Carried  forward, 

2,175 

June  15,  1899. 

Eliza  Brown,  Widow,  account  of 

income, 

120 

00 

No.   67. 

June  15,  1899. 

Geo.  Brown,  Legatee,  account  of 

income, 

80 

00 

• 

No.   68. 

June  15,  1899. 

Juliet  Brown,  Legatee,  account 

' 

of  income. 

80 

00 

No.  69. 

' 

June  15,  1899. 

Mary  Brown,    Legatee,   account 

of  income. 

80 

00 

440 

00 

44 


^-  ' 


CHECK    BOOK. 


Balance  brought  forward, 

Deposit, 

July  25,  1899. 

Peter  Johnson,  int. ,  on  B.  &M., 

Madison  Trust  Co.,  interest  on 
deposit  to  June  30th, 

Deposit  book  balanced 
as  of  July  30th,  1899, 
balance  as  per  book,  2,006.64 

Deduct  Checks,  Nos.  70  to  74, 
Carried  forward, 


2,175 


175 


2,350 


15 


2,366 


480 


1,886 


89 


00 
89 


75_ 
64 


00 


64 


No.  70. 

July  15,  1899. 

Eliza  Brown,  Widow,  account  of 
income, 


No.  71. 

July  15,  1899. 

George  Brown,  Legatee,  account 
income, 


No.  72. 

July  15,  1899. 

Juliet  Brown,  Legatee,  account 
of  income. 


No.  73. 

July  15,  1899. 

Mary   Brown,  Legatee,  account 
of  income. 


No.  74. 

August  15,  1899. 

Eliza  Brown,  Widow,  account  of 
income, 


120 


00 


80 


00 


80 


00 


80 


00 


120 
480 


00 
00 


45 


CHECK    BOOK. 


Balance  brought  forward, 

Deposit, 
August  2,  1899, 
Eliza  Jenkins,  int.,  on  B.  &'M., 

Deduct  Checks,  Nos.  76  to  79, 
Carried  forwai  d, 


1,886 


200 


2,086 
440 


1,646 


64 


00 


64 

00 
64 


No.   75. 

August  16,  1899. 

Geo.  Brown,  Legatee,  account  of 
income, 


No.   76. 

August  15,  1899. 

Juliet  Brown,  Legatee,   account 
of  income. 


No.  77. 

August  15,  1899. 

Mary-  Brown,   Legatee,  account 
of  income, 


No.  78. 

September  15,  1899. 

Eliza  Brown,  Widow,  account  of 
income. 


No.  79. 

September  16,  1899. 

Geo.   Brown,     Legatee,  account 
of  income. 


80 


00 


46 


CHECK    BOOK. 


Balance  brought  forward, 

Deposit, 

September  2,  1899, 

Clara  A.  Ertland,  interest  on  B. 
&M., 

Deduct  Checks,  Nos.  80  to  84, 
Carried  forward, 


1,646 


500 


2,146 
440 


1,706 


64 


00 
64 

00 
64 


No.  80. 

September  15,  1899. 

Juliet  Brown,  Legatee,  account 
of  income. 


No.  81. 

September  15,  1899. 

Mary   Brown,   Legatee,  account 
of  income, 


No.  82. 

October  15,  1899. 

Eliza  Brown,  Widow,  account  of 
income. 


No.  83. 

October  16,  1899. 

Geo.  Brown,  Legatee,  account  of 
income. 


No.  84. 

October  15,  1899. 

Juliet  Brown,  Legatee,  accoimt 
of  income, 


80 


00 


80 


00 


120 


00 


80 


00 


80 
440 


00 
00 


47 


CHECK    BOOK. 


Balance  brought  forward, 

Deposit, 
November  2,  1899. 
James  Smith,  int.,  on  B.  &  M., 
Julia  Carter,  interest  on  B.  &  M., 

Deposit, 

November  16,  1899. 

Eliza   Thomas,  int. ,  on  B.  &  M. , 

Susan  Abner,  int.,  on  B.  &  M., 

Martha  Elmer,  int.,  on  B.  &  M., 

Deduct  Checks,  Nos.  85  to  89, 
Carried  forward, 


1,706 

375 

187 

562 
337 
200 

64 

00 
50 

50 

50 

00 
14 

00 

3,369 
440 

2,929 

14 

No.  85. 

October  15,  1899. 

Mary   Brown,   Legatee,  account 
of  income. 


No.  86. 

November  15,  1899. 

Eliza  Brown,  Widow,  account  of 
income, 


No.  87. 

November  15,  1899. 

George  Brown,  Legatee,  account 
of  income, 


No.  88. 

November  15,  1899. 

Juliet  Brown,  Legatee,  account 
of  income. 


No.   89. 

September  15,  1899. 

Mary  Brown,  Legatee,    account 
of  income, 


48 


J^MU\ 


CHECK    BOOK. 


Balance  brought  forward, 

Deposit, 

December  2,  1899, 

Mary  Jones,  interest  on  B.  &M., 

Deduct  Checks,  Nos.  90  to  94, 
Carried  forward, 


2,9^9 


250 


3,179 
816 


2,362 


14 


00 
14 

50 
64 


No.  90. 

November  30,  1899. 

Receiver  of  Taxes,  N.  Y.  City, 
personal  tax  for  1899, 


No.  91. 

December  15,  1899. 

Eliza  Brown,  Widow,  account  of 
income. 


No.  92. 

December  15,  1899. 

Geo.  Brown,  Legatee,  account  of 
income, 


No.  93. 

December  15,  1899. 

Juliet  Brown,  Legatee,  account 
of  income. 


No.  94. 

December  15,  1899. 

Mary   Brown,   Legatee,  account 
of  income, 


456 


50 


120 


00 


80 


00 


80 


00 


80 
816 


00 
50 


49 


CHECK    BOOK. 


Balance  brought  forward, 

Deposit, 

January  25,  1900. 

Peter  Johnson,  int. ,  on  B.  &  M, , 

Madison  Trust  Co.,  int. , credited 
on  deposits  to  December 
31st,  1899. 

Deduct  Checks,  Nos.  95  to  99, 
Carried  forward. 

Deposit  book  balanced 
as  of  January  25th, 
1900,  balance  per 
book,  2,273.94 

No.  98  not  in,  80.00 

2,193.94 


^j| 


2,362 


175 


16 


2,653 

480 


2,073 


64 


00 


30 
94 


00 
94 


No.  95. 

January  15,  1900. 

Eliza  Brown,  Widow,  account  of 
income. 


No.  96. 

January  15,  1900. 

George  Brown,  Legatee,  account 
of  income, 


No.  97. 

January  15,  1900. 

Juliet  Brown,  Legatee,  account 
of  income. 


No.  98. 

January  15,  1900. 

Mary   Brown,   Legatee,  account 
of  income. 


No.  99. 

February  15,  1900. 

Eliza  Brown,  Widow,  account  of 
income, 


60 


CHECK    BOOK. 


Balance  brought  forward, 

2,073 

94 

No.   100. 

Deposit, 
February  2,  1900, 

February  15,  1900. 

Geo.  Brown,  Legatee,  account  of 
income, 

80 

00 

Eliza  Jenkins,  int.,  on  B.  &M., 

200 

00 
94 

00 

94 

2,273 
440 

Deduct  Checks,  Nos.  100  to  104, 

No.  101. 

Carried  forward, 

1,833 

February  16,  1900. 

Juliet  Brown,  Legatee,  account 
of  income. 

80 

00 

No.  102. 

February  15,  1900. 

Mary   Brown,   Legatee,  account 
of  income, 

80 

00 

No.  103 

March  16,  1900. 

Eliza  Brown,  Widow,  account  of 

income, 

120 

00 

• 

No.  104. 

March  15,  1900. 

Geo.   Brown,    Legatee,    account 

of  income, 

80 

00 

440 

00' 

51 


CHECK    BOOK. 


Balance  brought  forward, 

1,833 

94 

No.  105. 

. 

Deposit, 
March  2,  1900, 

March  15,  1900. 

Juliet  Brown,  Legatee,  account 
of  income. 

80 

00 

Clara    A.    Ertland,    interest  on 
B.  &  M., 

500 

00 

2,333 

94 

Deduct  Checks,  Nos.  105  to  109, 

506 

70 

No.  106. 
March  15,  1900. 

Carried  forward, 

1,837 

24 

1 

Mary   Brown,   Legatee,  account 
of  income, 

80 

00 

No.  107. 

1 

March  25,  1900. 

• 

Cash  for  disbursements,  includ- 
ing rent  of  safe. 

16 

35 

1 

No.  108. 

■ 

April  10,  1900. 
Eliza    Brown,    Executrix,    com- 

mission on  income. 

165 

18 

■ 

- 

No.  109. 
April  10,  1900. 

George  Brown,   Executor,  com- 

mission on  income, 

165 

17 

506 

70 

62 


CHECK    BOOK. 


Balance  brought  forward, 

1,827 

24 

No.  110. 

Deposit, 

April  10,  1900. 

May  2,  1900. 

Eliza  Brown,  Widow,  balance, 

281 

28 

James  Smith,  int.,  on  B.  &  M., 

375 

187 

00 
50 

Julia  Carter,  interest  on  B.  &  M. , 

Deposit, 

No.  111. 

May  16,  1900. 

April  10,  1900. 

Eliza  Thomas,  int.,  on  B.  &  M., 

562 

50 

George  Brown,  Legatee,  balance. 

187 

52 

Susan  Abner,  int.,  on  B.  &  M., 

337 
200 

50 
00 

Martha  Elmer,  int.,  on  B.  &  M., 

3,489 

74 

Deduct  Checks,  Nos.  110  to  114, 

943 

85 

No.  112. 
April  10,  1900. 

Carried  forward, 

2,545 

89 

Eliza  Brown,  Widow  of  Josiah, 
died  April  20,  1900. 

Juliet  Brown,  Legatee,  balance, 

187 

52 

No.  113. 
April  10,  1900. 

Mary  Brown,  Legatee,  balance. 

187 

53 

No.  114. 
May  15,  1900. 

George  Brown,  Legatee,  account 
of  income, 

100 

00 

943 

85 

§8 


CHECK    BOOK. 


Balance  brought  forward, 

2,545 

89 

No.  115. 

1 

Deposit, 

May  15,  1900. 

June  2,  1900. 

Juliet   Brown,  Legatee,  account 
of  income, 

100 

00 

Mary  Jones,  int.,  on  B.  &  k., 

250 

00 

2,795 
500 

89 
00 

Deduct  Checks,  Nos.  115  to  119, 

No.  116. 

Carried  forward, 

2,295 

89 

May  16,  1900. 

1 

Mary  Brown,  Legatee,   account 
of  income, 

100 

00 

No.  117. 

June  15,  1900. 

George  Brown,  Legatee,  account 
of  income, 

100 

00 

No.  118. 

June  15,  1900. 

Juliet   Brown,  Legatee,  account 
of  income, 

100 

00 

No.  119. 

June  15,  1900. 

Mary  Brown,  Legatee,  account 
of  income, 

100 

00 

• 

500 

00 

64 


*».,. 


CHECK    BOOK. 


I 


ft 


Balance  brought  forward, 

2,295 

89 

No.  120. 

Deposit, 
July  26,  1900. 

July  15,  1900. 

iGeo.   Brown,    Legatee,    account 
of  income, 

200 

00 

Peter  Johnson,  int.,  on  B.  &  M., 

175 

00 

Deposit, 

No.  121. 

August  1,  1900. 

July  15,  1900. 

Eliza  Jenkins,  B.  &  M.,  principal, 
Interest  on  B.  and  M.,  in  full, 

8,000 
200 

00 

00 
89 

00 
89 

Juliet  Brown,  Legatee,  account 
of  income, 

200 

00 

' 

10,670 
850 

Deduct  Checks,  Nos.  120  to  123, 

No.  122. 
July  15,  1900. 

July  31. 
Madison  Trust  Co.,  interest  on 

9,820 

1        deposit. 

19 

85 

Mary   Brown,   Legatee,  account 
of  income, 

200 

' 

9,840 

74 
74 

00 

Account  filed  as  of  Aug.  1, 1900, 

9,840 

►                     Deposit, 

No.  123. 

September  2,  1900. 

July  31,  1900. 

Clara    A.    Ertland,    interest  on 
B.  &  M., 

500 

00 

John  Doe,  public  accountant,  for 
writing  up  books,  &c., 

250 

00 

850 

00 

September  15,  1900. 

Madison  Trust  Co.,  interest  on 

deposits. 

24 

60 

No.  124. 

September  20,  1900. 

Smith  &   Jones,    allowance  for 
disbursements,   &c.,    as  per 

Deduct  Check  No.  124, 

10,365 
350 

34 
00 

Carried  forward, 

10,015 

34 

decree, 

350 

00 

350 

00 

65 


CHECK    BOOK. 


Balance  brought  forward, 
Deduct  Checks,  Nos.  135  to  129, 

10,015 

5,987 

34 

29 
05 

No.  125. 

September  20,  1900. 

George   Brown,  Executor,  com- 
mission on  principal, 

1,374 

130 
1,374 

663 
2,445 

Carried  forward, 

* 

■ 

4,028 

13 

■ 

No.  126. 
September  20,  1900. 

George  Brown,   Executor,  com- 
mission on  income, 

19 

^ 

No.   127. 

September  20,  1900. 

Juliet   Brown,  Executrix,    Eliza 
Brown,  com. ,  on  principal, 

13 

No.  128. 

September  20,  1900. 

Juliet   Brown,  Executrix,    Eliza 
Brown,  balance  of  income, 

80 

No.  129. 
September  20,  1900. 

George    Brown,     Legatee,    bal- 
ance of  principal. 

04 

5,987 

29 

58 


Jjjl^ 


CHECK    BOOK. 


Balance  brought  forward, 


Deduct  Checks,  Nos.  130  to  133, 
Account  Closed. 


4,028 
4,028 


05 


05 


No.  130. 
September  20,  1900. 

George    Brown,    Legatee,    bal- 
ance of  income, 


No.  131. 

September  20,  1900. 

Juliet   Brown,   Legatee,  balance 
of  principal, 


No.  132. 

September  20,  1900. 

Juliet   Brown,  Legatee,  balance 
of  income, 


No.  133. 

September  20,  1900. 

Mary  Brown,  Legatee,  balance 
of  income, 


743 


41 


2,190 


88 


743 


41 


350 
4,028 


35 

05 


S7 


JOURNAL, 


60 


JOURNAL,  page  i. 


WILL. 


I,  JosiAH  Brown,  of  the  City  and  County  of  New 
York,  State  of  New  York,  being  of  sound  mind  here- 
by declare  this  to  be  my  last  Will  and  Testament.  I 
give  unto  my  Executors  all  my  property  both  real  and 
personal  that  I  may  die  seized  and  possessed  of,  after 
paying  all  my  lawful  debts,  to  be  held  by  them  in 
trust  during  the  lifetime  of  my  wife,  Eliza  ;  they  shall 
collect  the  income  thereof  and  shall  pay  the  same  over 
in  such  amounts  as  they  may  see  fit. 

To  my  wife,  Eliza,  ^  of  the  net  income.  To  my 
son,  George,  f  of  the  net  income.  To  my  daughter, 
Juliet,  f  of  the  net  income.  To  my  daughter,  Mary, 
f  of  the  net  income. 

At  the  death  of  my  wife,  the  whole  of  my  estate 
shall  be  divided  into  three  equal  shares,  one  share  to 
be  paid  to  my  son,  George,  or  to  his  issue  surviving 
him.  One  share  to  be  paid  to  my  daughter,  Juliet,  or 
to  her  issue  surviving  her,  and  one  share  to  be  paid  to 
my  daughter,  Mary,  or  to  her  issue  surviving  her.  If 
any  of  my  children  should  die  prior  to  attaining 
majority  leaving  no  issue  surviving,  the  share  allotted 
to  him  or  her  shall  go  in  equal  share  to  the  survivors 
or  survivor.  If  any  of  my  children  should  die  after 
attaining  his  or  her  majority,  before  the  death  of  my 
wife,  such  child  or  children  shall  have  the  right  to 
will  his  or  her  share  as  allotted  herein,  and  I  name 
my  wife  and  my  son  George  as  Executrix  and  Execu- 
tor of  this  my  last  Will. 

Signed    and    acknowledged    this " 
day,    March    31st,    1893,    in 
presence  of  W  Josiah  Brown. 


Archibald  Jones,  742  Eighth  Ave.,  New  York. 
Jonathan  Newkirk,  874  W.  94th  St.,  New  York. 
Matthew  Black,  369  St.  Marks  Ave.,  New  York. 


61 


JOURNAL,  page  2. 


MARCH  16th,  1898. 


VALUE. 


Copy  of   Inventory  of  the   Estate   of  Josiah  Brown, 
deceased,  filed  April  20tli,  1898. 


Bond  and  Mortgage,  by  James  Smith,  secured  by 
house  and  lot  25  Fourth  Avenue,  New  York  City, 
due  May  1st,  1902,  interest  5%  per  annum,  payable 
semi-annually,  May  1st  and  November  1st, 


Bond  and  Mortgage,  by  Mary  Jones,  secured  by  house 
and  lot  215  Chambers  Street,  New  York  City,  due 
December  1st,  1901,  interest  5%  per  annum,  payable 
semi-annually,  June  1st  and  December  1st, 


Bond  and  Mortgage,  by  Eliza  Jenkins,  secured  by 
house  and  lot  425  Third  Avenue,  New  York  City, 
due  August  1st,  1900,  interest  5%  per  annum, 
payable  semi-annually,  August  1st  and  February  1st, 


Bond  and  Mortgage,  by  Julia  Carter,  secured  by  house 
and  lot  187  Bleecker  Street,  New  York  City,  due 
May  1st,  1900,  interest  5%  per  annum,  payable 
semi-annually,  May  1st  and  November  1st, 


Bond  and  Mortgage,  by  Clara  A.  Ertland,  secured  by 
house  and  lot  85  West  23rd  Street,  New  York  City, 
due  September  1st,  1902,  interest  5%  per  annum, 
payable  semi-annually,  March  1st  and  September  1st, 


Forty  Bonds  of  United  States,  $1,000.00  each,  due 
1910  interest  4%  per  annum,  payable  quarterly, 
February  1st,  May  1st,  August  1st  and  November  1st, 


Cash  on  deposit  in  Mutual  Savings  Bank,  New  York 
City, 


Cash  on  deposit  in  Friends  Savings  Bank,  New  York 
City, 


Cash  on  deposit  in  Sand  Hill  Bank, 


Note    made  by  James   Smithers,   payable   February 
2nd,  1887, 

<^1 


NOMINAL. 

APPRAISED. 

15,000 

00 

15,000 

10,000 

00 

10,000 

8,000 

00 

8,000 

7,500 

00 

7,500 

20,000 

00 

20,000 

40,000 

00 

42,000 

3,500 

00 

3,500 

3,500 

00 

3,600 

875 

20 

875 

2,000 

00 

Nominal 

$110,375 

20 

$110,375 

00 


00 


00 


00 


00 


00 


00 


00 


20 


20 


62 


Ji^ 


JOURNAL,  page  3. 


MARCH   16th,  1898. 


Estate  of  Josiah  Brown, 


Cr. 


By  James  Smith,  Bond  and  Mtg'e,  secured  by  prem- 
ises, 25  Fourth  Avenue,  N.  Y.  City,  interest  5% 
per  annum,  payable  May  1st,  and  Nov.  1st, 

By  Mary  Jones,  Bond  and  Mtg'e,  secured  by  premises 
215  Chambers  Street,  N.  Y.  City,  interest  5%  per 
annum,  payable  June  1st,  and  Dec.  1st, 

By  Eliza  Jenkins,  Bond  and  Mtg'e,  secured  by  prem- 
ises 425  Third  Avenue,  N.  Y.  City,  interest  5% 
per  annum,  payable  August  1st,  and  Feby.  1st, 

By  Julia  Carter,  Bond  and  Mtg'e,  secured  by  premises 
187  Bleecker  Street,  N.  Y.  City,  interest  5%  per 
annum,  payable  May  1st,  and  Nov.  1st, 

By  Clara  A.  Ertland,  Bond  and  Mtg'e,  secured  by 
premises  85  W.  23rd  Street,  N,  Y,  City,  interest 
6%  per  annum,  payable  Sept.  1st,  and  March  1st, 

By  United  States  Bonds,  40  bonds  $1,000  each  due 
1910,  interest  4%  per  annum,  payable  Aug,  1st, 
November  1st,  February  1st,  and  May  1st, 

By  Mutual  Savings  Bank, 

Cash  on  deposit  as  per  pass  book, 

By  Friends  Savings  Bank, 

Cash  on  deposit  as  per  pass  book, 

By  Sand  Hill  Bank, 

Cash  on  deposit  as  per  pass  book, 


Cash, 


APRIL,  1898. 


Dr. 


To  Sand  Hill  Bank, 

Balance  as  per  pass  book,  withdrawn  and  depos- 
ited in  Madison  Trust  Co. ,  New  York  City, 


15,000 

10,000 

8,000 

7,600 

20,000 

42,000 

3,500 

3,500 

875 


110,375 


875 


875    20 


00 


00 


00 


00 


00 


00 


00 


00 


20 


20 


20 


110,375 


20 


110,375 


20 


875 
875 


20 
20 


63 


JOURNAL,  page  4. 


MAY,  1898. 


Cash, 

2  To  U    S.  Bonds,  40  Coupons  $10.00  each, 

3  "   James  Smith, 
"   Julia  Carter, 


Dr. 


962 


962 


60 


50 


400 
375 

187 
962 


00 
00 
50 
50 


Cash,  Cr. 

By  Expenses  principal, 
10     Jones  &  Bro., 

Undertakers  bill,  196.00 

James  Johnson, 

Flowers  at  funeral,  26.00 

15     Smith  &   Jones, 

Disbursements  in  matter  of  proving  Will,         25.00 
Appraisers  fees,  50.00 

By  Eliza  Brown,  Widow, 

"    Geo.  Brown,  Legatee, 

"    Juliet  Brown,  Legatee, 

"    Mary  Brown,  Legatee, 
25       "    Debts  due  by  Testator, 

Jones  &  Carroll,  Coal,  28.60 

Dairy  Farm  milk,  10.80 

Brown  &  Co.,  Groceries,  37.75 


732 


06 


295 

120 
80 
80 
80 


77 
732 


00 

00 
00 
00 
00 


06 
05 


732 


05 


Interest, 

By  U.  S,  Bonds,  3  mos,,  int.,  as  per  coupons, 
"  James  Smith,  6  mos.,  interest  on  B.  &  M., 
"    Julia  Carter,  6  mos.,  interest  on  B.  &  M., 


Cr. 


400 
376 

187 
962 


00 
00 
50 
50 


962 


962 


60 


50 


Interest, 
31     To  Estate  of  Josiah  Brown, 

Accrued  interest  to  March  15th,  1898,  belong- 
ing to  principal, 
On  B.  &  M.,  Nov.  1st,  1897,  to  Mar.  15th, 
James  Smith, 
Jul'a   Carter, 
On  U.  S.  Bonds,  Feby  1st,  to  Mar.  15th, 


Dr. 


281.25 
140  62 
200  00 


621 


87 


621 


87 


621 

'621 


87 


64 


:JV- 


:^6^fur: 


JOURNAL,  page  5. 


JUNE,  1898. 


Cash, 

To  Mary  Jones, 


Dr. 


250 


250 


00 


00 


^60^ 
250 


00 
00 


Cash, 
15     By  debts  due  by  Testator, 

James  Calkins,  for  medical  services, 


Or. 


85 

85 


00 
00 


85 


85 


00 


00 


Interest, 
By  Mary  Jones, 
6  months  interest  on  B.  &  M., 


Or. 


250 
250 


00 
00 


250 


250 


00 


00 


Interest,  Dr. 

To  Estate  of  Josiah  Brown, 
Accrued  interest  December  1st,   1897,    to   March 
15th,  1898,  on  Mary  Jones  B.  &  M.  which  belongs 
to  principal, 


145 


145 


83 


83 


145 
145 


83 

83 


W 


JOURNAL,  page  6. 


JULY,  1898. 


20 


25 


31 


Cash, 

To  Mutual  Savings  Bank, 
**   Friends  Savings  Bank 


Dr. 


Cash,  ^  Cr. 

By  Peter  Johnson,  loan  on  bond  Bond  and  Mortgage 
on  premises,  No.  18  South  89th  Street,  New  York 
City,  Borough  of  Manhattan,  for  5  years,  interest 
5%  per  annum,  payable  semi-annually,  January 
35th  and  July  25th, 


Interest, 

By  Mutual  Savings  Bank, 

6  months  interest  to  July  1st, 
By  Friends  Savings  Bank, 

6  months  interest  to  July  1st, 


Cr. 


Interest,  Dr. 

To  estate  of  Josiah  Brown,  accrued  interest  to  March 

15th,  1898,  which  belongs  to  principal. 
Mutual  Savings  Bank,  29.16 

Friends       ♦♦  •'  29.17 


7,140 

00 

7,140 

00 

7,000 

00 

7.000 

00 

70 
70 

00 
00 

140 

00 

58 

33 

58 

33 

3,670 
3,570 


00 
00 


7,140 


00 


7,000 


00 


7,000 


00 


140 


140 


00 


00 


58 


33 


68 


33 


66 


JOURNAL,  page  7. 


AUGUST,  1898. 


Cash, 

1  To  U.  S.  Bonds,  40  Coupons  $10.00  each, 

2  "   Eliza  Jenkins, 


Dr. 


600 


600 


00 


00 


400 
200 
600 


00 
00 
00 


Cash, 

By  Expense  Income, 
1     Sundry  Items, 
15     By  Eliza  Brown,  Widow, 
"   Geo.  Brown,  Legatee, 
"  Juliet  Brown,  Legatee, 
"   Mary  Brown,  Legatee, 


Cr. 


10 
120 
80 
80 
80 
370 


50 
00 
00 
00 
00 

50 


370 


60 


370 


50 


Interest,  Cr. 

By  U.  S.  Bonds,  3  months  interest  from  May  1st, 
"   Eliza  Jenkins,  6  months  interest  on  B.  &  M., 


400 
200 
600 


00 
00 
00 


600 


600 


00 


00 


Interest,  Dr. 

To  Estate  of  Josiah  Brown, 
Accrued  interest  from  February  1st,  1898,  to  March 
15th,    1898,    which  belongs  to  principal,  on  Eliza 
Jenkins,  B.  &  M., 


50 


50 


00 


00 


50 
50 


00 
00 


67 


JOURNAL,  page  8. 


SEPTEMBER,  1898. 


Cash, 

To  Clara  A.  Ertland. 


Dr. 


14 


15 


Cash,  Cr. 

By  Expenses  pr«incipal, 

Paid  Comptroller  N.  Y,  City,  the  amount  of 
inheritance  tax  as  assessed,  due  to  the  State 
of  New  York,  1,103.75 

Less  rebate,  55.19 

By  Eliza  Brown,  Widow, 

"    George  Brown,  Legatee, 

*'    Juliet  Brown,  Legatee, 

**    Mary  Brown,  Legatee, 


Interest,  Cr. 

By  Clara  A.  Ertland, 
6  months  interest  on  Bond  and  Mortgage, 


Interest,  Dr. 

To  estate  of  Josiah  Brown, 
Accrued  interest  on  Bond  and  Mortgage  of  Clara 
A.  Ertland,  from  March  1st,  1898,  to  March  15th, 
1898,  which  belongs  to  principal. 


1,048 

56 

120 

00 

80 

00 

80 

00 

80 

00 

1,408 

56 

500 

00 

500 

00 

500 


500 


41 


41 


00 


00 


67 


67 


500 
500 


1,408 


00 
00 


56 


1,408 


500 


500 


56 


00 


00 


41 
41 


67 


JOURNAL,  page  9. 


OCTOBER,  1898. 


2 
21 


15 


2 
5 

11 
12 
13 
14 


21 
1 


15 


31 


Cash,  Dr. 

To  James  Smithers, 

His  note  for  $2,000  00  was  collected  by- 
Smith  &  Jones,  with  interest  to  October  2d, 
1898, 

Amount  of  note,  2,000.00 

Interest  from  February  2d,  1897,  200.00 


Less  collection  fee,  10% 


2,200.00 
220.00 


Cr. 


Cash, 

By  Expense  principal. 

Paid  Smith  &  Jones,  for  legal  services  as  per  bill. 
By  Eliza  Brown,  Widow, 

"   Geo.  Brown,  Legatee, 

"  Juliet  Brown,  Legatee, 

"   Mary  Brown,  Legatee, 


James  Smithers,  Dr. 

To  Estate  of  Josiah  Brown, 

His  note  for  $2,000.00  due  February  2d, 
1897,  was  taken  in  the  inventory  as  of  no 
value,  the  amount  of  the  note  having  been 
collected,  with  interest  to  October  2d,  1898  ; 
this  entry  is  to  place  to  the  credit  of  prin- 
cipal, the  amount  belonging  thereto. 
Amount  of  note,  2,000.00 

Less  collection  fee,  200.00 


Accrued  interest  to  March  15th,  1898, 
13  months,  13  days,  134.33 
Less  collection,  13.43 

To  Interest, 

Interest  from  March  15th,  1898, 
Less  collection  fee, 


1,800.00 


120.90 


1,980 


1,980 


250 

120 

80 

80 

80 


610 


1,980 


1,980 


00 


00 


00 
00 
00 
00 
00 
00 


00 


00 


1,980 


00 


1,980 


00 


610 


00 


610 


00 


1,920 

59^ 

l,9bO 


90 

10 
00 


tt 


JOURNAL,  page  lo. 


NOVEMBER,  1898. 


2 

Cash,                                                                               Dr. 

48,162 

50 

20 

2 

To  U.  S.  Bonds, 

40  Coupons  $10  each, 

400 

00 

15 

To  James  Smith, 

375 

00 

18 

**  Julia  Carter, 

187 

50 

20 

"   U.  S.  Bonds, 
Proceeds  of  sale  by  Cook  &  Brown,  40 
bonds  $1,000.00  each,  @  1.18>^,                    47,250.00 

Less  brokerage,  y^%                                                50.00 

47,200 

00 

48,162 

50 

48,162 

50 

48,853 

2 

Cash,                                                                                Cr. 

80 

7 

10 

By  Debts  Owed  by  Testator, 

Paid  Eliza  Brown,  for  payments  made  by  her  as  per 
receipt, 

125 

80 

11 

16 

By  Eliza  Brown,  Widow, 

100 

00 

12 

'*    George  Brown,  Legatee, 

60 

00 

13 

"    Juliet  Brown,  Legatee, 

60 

00 

14 

**    Mary  Brown,  Legatee, 

60 

00 

23 

By  Eliza  Thomas, 

Loan  on  Bond  and  Mortgage,  on  premises  18  North 
89th  Street,  Borough  of  Manhattan,  N.  Y.  City,  for 
5   years,  interest  4^%   per   annum,  payable   semi- 
annually. May  15th,  and  November  15th, 

25,000 

00 

24 

By  Martha  Elmer, 

Loan  on  Bond  and  Mortgage,  on  premises  18  Bron- 
son  Street,  Borough  of  Manhattan,  N.  Y.  City,  for 
5    years,    interest    5%    per    annum,  payable   semi- 
annually, May  15th,  and  November  15th, 

8,000 

00 

24 

By  Susan  Abner, 
Loan  on  Bond  and  Mortgage,  on  premises  23  St. 
George  Avenue,  Borough  of  Manhattan,  N.  Y.  City, 
for  5  years,  interest  4^%,  payable  semi  annually. 
May  15th  and  November  15th, 

15,000 

00 

6 

30 

By  Expense  income. 

Receiver  of  Taxes,  personal  tax,  1899, 

448 

00 
80 

48,853 

48,853 

80 

962 

3 

Interest,                                                                              Cr. 

50 

20 

1 

By  U.  S.  Bonds, 
3  months  interest,  from  Augpist  1st, 

400 

00 

15 

1 

By  James  Smith, 
6  months  interest  on  Bond  and  Mortgage, 

375 

00 

18 

1 

By  Julia  Carter, 

6  months  interest  on  Bond  and  Mortgage, 

187 

50 
50 

962 

962 

50 

70 


>5» 


JOURNAL,  page  ii. 


DECEMBER,  1898. 


2 
16 


2 

11 
12 
13 
14 
5 


Cash, 

To  Mary  Jones, 


Dr. 


15 


15 


3 

16 


Cash, 

By  Eliza  Brown,  Widow, 
"   George  Brown,  Legatee, 
**  Juliet  Brown,  Legatee, 
*'   Mary  Brown,  Legatee, 
**   Expense  principal, 

Paid  Evening  Post, 

Advertising  for  claims,  &c., 

Law  Journal, 

Advertising  for  claims,  &c, 


Cr. 


24.50 
24.50 


Interest, 
By  Mary  Jones, 
6  months  interest  on  Bond  and  Mortgage, 


Cr. 


250 


250 


100 
60 
60 
60 


49 
329 


250 

250 


00 

"oo" 


00 
00 
00 
00 


00 
00 


00 
00 


250 
250 


329 


00 
00 


00 


329 


250 


250 


00 


00 


00 


n 


JOURNAL,  page  12. 


JANUARY,    1899. 


2 

22 

3 


25 
31 


2 
11 
12 
13 
14 


3 
22 


15 


25 


Cash,  Dr. 

To  Peter  Johnson, 
"   Interest, 

Amount  credited  by  Madison  Trust  Company,  for 

interest  to  December  31st,  1898, 


Cash, 

By  Eliza  Brown,  Widow, 
'*    George  Brown,  Legatee, 
"    Juliet  Brown,  Legatee, 
'*    Mary  Brown,  Legatee, 


Cr. 


Interest, 
By  Peter  Johnson, 

6  months  interest  on  Bond  and  Mortgage, 


Cr. 


198 


198 


100 
60 
60 
60 

280 


175 
175 


87 


87 


00 
00 
00 
00 
00 


00 
00 


175 


23 

198 


280 


280 


175 


175 


00 


87 
87 


00 


00 


00 


00 


73 


JOURNAL,  page  13. 


FEBRUARY,    1899. 


Cash, 

To  Eliza  Jenkins, 


Dr. 


200 


200 


00 


00 


200 
200 


00 
00 


Cash, 
15    By  Eliza  Brown,  Widow, 
*•    George  Brown,  Legatee, 
*'    Juliet  Brown,  Legatee, 
'*    Mary  Brown,  Legatee, 


Cr. 


100 
60 
60 
60 

280 


00 
00 
00 
00 
00 


280 


280 


00 


00 


Interest, 

By  Eliza  Jenkins, 
6  months  interest  on  Bond  and  Mortgage, 


Cr. 


200 
200 


00 
00 


200 


200 


00 


00 


7S 


JOURNAL,  page  14. 


MARCH,  1899. 


15 


31 


31 


Cash, 

To  Clara  A.  Ertland, 


Dr. 


Cash,  Cr. 

By  Eliza  Brown,  Widow, 

"    George  Brown,  Legatee, 

**    Juliet  Brown,  Legatee, 

**    Mary  Brown,  Legatee, 

By  Expense  Income, 

Cash  for  petty  disbursements  including  rent  of  safe, 


Interest,  Or. 

By  Clara  A.  Ertland, 
6  months  interest  on  Bond  and  Mortgage, 


Interest, 
To  Income, 

Balance  of  account. 


Commissions, 

To  Eliza  Brown,  Executrix, 

Commission  on  income. 
To  George  Brown,  Executor, 

Commission  on  income, 


Income, 

To  Expense  Income, 
' '   Commissions, 
"   Eliza  Brown,  Widow,  i, 
**   George  Brown,  Legatee,  f, 
"   Juliet  Brown,  Legatee,  f, 
"   Mary  Brown,  Legatee,  f, 


Dr. 


Dr. 


Dr. 


500 


500 


100 
60 

60 
60 

17 


297 


500 


500 


3,705 


3,705 


235 


235 


3,705 


3,705 


00 


00 


00 
00 
00 
00 

50 


50 


00 


00 


27 


27 


26 


26 


27 


27 


500 


500 


297 


297 


500 


500 


3,705 


3,705 


117 

63 

117 

63 

235 

26 

476 

00 

235 

26 

998 

00 

665 

33 

665 

34 

665 

34 

3,705 

27 

00 


00 


50 


50 


00 


00 


27_ 
27 


74 


JOURNAL,  page   15. 

Estate  of  Josiah  Brown, 
LEDGER  BALANCES   AS  OF   MARCH   31st,  1899. 


Estate  of  Josiah  Brown, 

Cash, 

Expense  principal, 

Debts  owed  by  Testator, 

Eliza  Brown,  Executrix, 

George  Brown,  Executor, 

Eliza  Brown,  Widow, 

George  Brown,  Legatee, 

Juliet  Brown,  Legatee, 

Mary  Brown,  Legatee, 

James  Smith, 

Mary  Jones, 

Eliza  Jenkins, 

Julia  Carter, 

Clara  A.  Ertland, 

U.  S.  Bonds, 

Peter  Johnson, 

Eliza  Thomas, 

Martha  Elmer, 

Susan  Abner, 


Dr. 

1,372 
1,643 

287 


15,000 

10,000 

8,000 

7,500 

20,000 

7,000 
25,000 

8,000 

15,000 

118,803 


66 
56 
85 


00 
00 
00 
00 
00 

00 
00 
00 
00 

07 


Cr. 
113,213 


117 
117 
18 
45 
45 
45 


5200 


118,803 


80 


63 
63 
00 
33 
34 
34 


00 


07 


76 


JOURNAL,  page   i6. 


APRIL,  1899. 


Cash, 
10     By  Eliza  Brown,  Executrix, 
'*   George  Brown,  Executor, 
"   Eliza  Brown,  Widow, 
"   Geo.  Brown,  Legatee, 
"  Juliet  Brown,  Legatee, 
"   Mary  Brown,  Legatee, 


Cr. 


117 
117 

18 
45 
45 

45 
389 


63 
63 
00 
33 
34 
34 

27 


389 


37 


389 


27 


Cash, 
1     To  James  Smith, 
"   Julia  Carter, 
16       "    Eliza  Thomas, 
**   Susan  Abner, 
"   Martha  Elmer, 


MAY,  1899. 


Dr. 


1,662 


1,662 


50 


50 


375 
187 
562 
337 
200 
1,662 


00 
50 
50 
50 

00 
50 


Cash, 
15     By  Eliza  Brown,  Widow, 
"   George  Brown,  Legatee 
**   Juliet  Brown,  Legatee, 
'*   Mary  Brown,  Legatee, 


Cr. 


120 
80 
80 
80 

360 


00 
00 
00 
00 
00 


360 


360 


00 


00 


Interest, 

By  James  Smith, 

6  months  interest  on 
By  Julia  Carter, 

6  months  interest  on 
By  Eliza  Thomas, 

6  months  interest  on 
By  Susan  Abner, 

6  months  interest  on 
By  Martha  Elmer, 

6  months  interest  on 


Cr. 


Bond  and  Mortgage, 
Bond  and  Mortgage, 
Bond  and  Mortgage, 
Bond  and  Mortgage, 
Bond  and  Mortgage, 


375 

187 

662 

337 

200 
1,662 


00 

50 

50 

50 

00 
50 


1,662 


50 


1,662 


50 


76 


JOURNAL,  page    17. 


JUNE,  1899. 


15 


Cash, 

To  Mary  Jones, 


Dr. 


Cash, 
By  Eliza  Brown,  Widow, 
"   Geo.  Brown,  Legatee, 
"  Juliet  Brown,  Legatee, 
"   Mary  Brown,  Legatee, 


Cr. 


250 


250 


120 
80 
80 
80 


00 


00 


00 
00 
00 
00 


360    00 


Interest, 
By  Mary  Jones, 
6  months  interest  on  Bond  and  Mortgage, 


Cr. 


250 
250 


00 
00 


250 
250 


360 


360 


250 


250 


00 
00 

00 


00 


00 


00 


77 


JOURNAL,  page    i8. 


JULY,  1899. 


2  Cash,  Dr. 
22    25     To  Peter  Johnson, 

3  "    Interest, 
*'   Madison   Trust  Company,  interest  on  deposit   to 

June  30th, 


2  Cash,  Cr. 

11  15     By  Eliza  Brown,  Widow, 

12  "   George  Brown,  Legatee, 

13  "   Juliet  Brown,  Legatee, 

14  "   Mary  Brown,  Legatee, 


3  Interest,  Cr. 

22    25     By  Peter  Johnson, 

6  months  interest  on  Bond  and  Mortgage, 


190 

75 

190 

75 

120 
80 
80 
80 

00 
00 
00 
00 

360 

00 
00 

175 

175 

00 

175 
15 


190 


00 

75 
75 


360 


00 


360 


175 


00 
00 


175 


00 


78 


JOURNAL,  page    19. 


AUGUST,  1899. 


Cash, 

To  Eliza  Jenkins, 


Dr. 


200 


200 


00 


00 


200 
200 


00 
00 


Cash, 
15     By  Eliza  Brown,  Widow, 

"    George  Brown,  Legatee, 
"   Juliet  Brown,  Legatee, 
"   Mary  Brown,  Legatee, 


Cr. 


120 
80 
80 
80 

360 


00 
00 
00 
00 
00 


360 


360 


00 


00 


Interest, 

By  Eliza  Jenkins, 
6  months  interest  on  Bond  and  Mortgage, 


Cr. 


200 
200 


00 
00 


200 


200 


00 


00 


w 


JOURNAL,  page  20. 


SEPTEMBER,    1899, 


Cash, 

To  Clara  A.  Ertland, 


Dr. 


500 


500 


00 


00 


500 
500 


00 
00 


Cash, 
15     By  Eliza  Brown,  Widow, 
"    George  Brdwn,  Legatee, 
"    Juliet  Brown,  Legatee, 
**    Mary  Brown,  Legatee, 


Cr. 


120 
80 
80 
80 

360 


00 
00 
00 
_00 
00 


360 


360 


00 


00 


Interest, 

By  Clara  A.  Ertland, 

6  months  interest  on  Bond  and  Mortgage, 


Cr. 


500 
600 


00 
00 


500 


600 


00 


00 


OCTOBER,  1899. 


Cash, 
15    By  Eliza  Brown,  Widow, 
"   George  Brown,  Legatee, 
'*   Juliet  Brown,  Legatee, 
"   Mary  Brown,  Legatee, 


Cr. 


120 

80 

80 

80 

360 


00 
00 
00 
00 
00 


360 


360 


00 


00 


80 


T/?»-A  ' 


JOURNAL,  page    21. 


NOVEMBER.   1899. 


Cash, 
2    To  James  Smith, 
**   Julia  Carter, 
IG      "   Eliza  Thomas, 
"   Susan  Abner, 
"    Martha  Elmer, 


Dr. 


1,662 


50 


1,662 


50 


375 
187 
563 
337 
200 

1,662 


00 
50 
50 
50 
00 
50 


30 


Cash,  Cr. 

By  Eliza  Brown,  Widow, 

"   George  Brown,  Legatee, 

"   Juliet  Brown,  Legatee, 

"   Mary  Brown,  Legatee, 

"    Expense  Income, 

' '   Receiver  of  Taxes,  N  Y.  City,  personal  tax  for  1899, 


120 
80 
80 
80 

456 

816 


00 
00 
00 
00 

50 

60 


816 


50 


816 


50 


Interest, 

By  James  Smith, 

6  months  interest  on  Bond  and  Mortgage, 
By  Julia  Carter, 

6  months  interest  on  Bond  and  Mortgage, 
15    By  Eliza  Thomas, 

6  months  interest  on  Bond  and  Mortgage, 
By  Susan  Abner, 

6  months  interest  on  Bond  and  Mortgage, 
By  Martha  Elmer, 

6  mdnths  interest  on  Bond  and  Mortgage, 


Cr. 


375 

187 

562 

337 

200 
1,662 


00 

50 

50 

50 

00 
~50" 


1,662 


50 


1,662 


50 


81 


JOURNAL,  page    22. 


DECEMBER,  1899. 


2 
16 


2 

11 
12 
3  3 
14 


3 

16 


15 


Cash, 

To  Mary  Jones, 


Dr. 


Cash, 
By  Eliza  Brown,  Widow, 
"   Geo.  Brown,  Legatee, 
"   Juliet  Brown,  Legatee, 
**   Mary  Brown,  Legatee, 


Cr. 


Interest, 
By  Mary  Jones, 
6  months  interest  on  Bond  and  Mortgage, 


Cr. 


250 


250 

00 

120 

00 

80 

00 

80 

00 

80 

00 

360 

00 

250 
250 


00 


00 
00 


250 
250 


360 


360 


250 


250 


00 
00 

00 


00 


00 


00 


JOURNAL,  page    23. 


JANUARY,  1900. 


2 

22 

3 


25 


Cash,  Dr. 

To  Peter  Johnson, 

'  *   Interest, 

"  Madison  Trust  Company,  interest  on  deposit  July 
1st,  to  December  31st, 


2 
11 
12 
13 

14 


3 
22 


15 


Cash, 

By  Eliza  Brown,  Widow, 
'*   George  Brown,  Legatee, 
"  Juliet  Brown,  Legatee, 
*'   Mary  Brown,  Legatee, 


Cr. 


25 


Interest,  Cr. 

By  Peter  Johnson, 
6  months  interest  on  Bond  and  Mortgage, 


191 

30 

191 

30 

120 
80 
80 
80 

00 
00 
00 
00 

360 

00 
00 

175 

175 

00 

175 

16 


191 


00 

30 
30 


360 


00 


360 


00 


175 


00 


175 


00 


JOURNAL,  page    24. 


FEBRUARY,  1900. 


2 
17 


2 

11 

12 
13 
14 


3 

17 


15 


Cash, 

To  Eliza  Jenkins, 


Dr. 


Cash, 
By  Eliza  Brown,  Widow, 
"   Geo.  Brown,  Legatee, 
"  Juliet  Brown,  Legatee, 
"   Mary  Brown,  Legatee, 


Cr. 


Interest, 

By  Eliza  Jenkins, 

6  months  interest  on  Bond  and  Mortgage, 


Cr. 


200 


200 


120 
80 
80 
80 

360 


200 
200 


00 


00 


00 
00 
00 
00 
00 


00 
00 


200 
200 


360 


360 


200 


200 


00 
00 

00 


00 


00 


00 


84 


JOURNAL,  page  25. 


MARCH,    1900, 


2 

Cash, 

Dr. 

500 

00 

19 

2 

To  Clara  A.  Ertland, 

500 

00 

500 

00 

500 

00 

376 

2 

Cash, 

Cr. 

35 

11 

15 

By  Eliza  Brown,  Widow, 

120 

00 

12 

*'    George  Brown,  Legatee, 

80 

00 

13 

'*    Juliet  Brown,  Legatee, 

80 

00 

14 

*'    Mary  Brown,  Legatee, 

80 

00 

6 

25 

*  *    Expense  Income, 

Petty  disbursements,  including  rent  of  safe, 

16 

35 

376 

35 

376 

35 

500 

3 

Interest, 

Cr. 

00 

19 

1 

By  Clara  A.  Ertland, 

31 

6  months  interest  on  Bond  and  Mortgage, 

500 

00 
00 

500 

500 

00 

5,607 

05 

3 

Interest, 

Dr. 

4 

To  Income, 

5,607 

05 

5,607 

05 

5,607 

05 

330 

35 

8 

Commissions, 

Dr. 

9 

31 

To  Eliza  Brown   Executrix, 

165 

18 

10 

'*   George  Brown,  Executor, 

165 

17 

330 

35 

330 

35 

5,607 

05 

4 

Income, 

Dr. 

H 

To  Commissions, 

330 

35 

6 

"   Expense  income, 

472 

85 

11 

'*    Eliza  Brown,  Widow, 

1,601 

28 

13 

"   George  Brown,  Legatee, 

1,067 

52 

13 

"   Juliet  Brown,  Legatee, 

1,067 

52 

14 

**   Mary  Brown,  Legatee, 

1,067 

53 

5,607 

05 

5,607 

05 

86 


JOURNAL,  page  26. 

Estate  of  Josiah  Brown, 

LEDGER  BALANCES  AS  OF   MARCH   31st,  1900. 


Estate  of  Josiah  Brown, 

Cash, 

Expense  principal, 

Debts  owed  by  Testator, 

Eliza  Brown,  Executrix, 

George  Brown,  Executor, 

Eliza  Brown,  Widow, 

George  Brown,  legatee, 

Juliet  Brown,  Legatee, 

Mary  Brown,  Legatee, 

James  Smith, 

Mary  Jones, 

Eliza  Jenkins, 

Julia  Carter, 

Clara  A.  Ertland, 

U.  S.  Bonds, 

Peter  Johnson, 

Eliza  Thomas, 

Martha  Elmer, 

Susan  Abner, 


Dr. 

2,157 

1,642 

287 


15,000 

10,000 

8,000 

7,600 

20,000 

7,000 
25,000 

8,000 

15,000 

119,588 


69 
56 
85 


00 
00 
00 
00 
00 

00 
00 
00 
00 
00 


Cr. 
113,213 


165 
165 
281 

187 
187 
187 


6,200 


119,588 


80 


18 
17 
28 
52 
52 
53 


00 


00 


88 


JOURNAL,  page  27. 


APRIL,   1900. 


2 
9 
10 
11 
12 
13 
14 


Cash, 
10     By  Eliza  Brown,  Executrix, 
"   George  Brown,  Executor, 
"   Eliza  Brown,  Widow, 
"   George  Brown,  Legatee, 
"   Juliet  Brown,  Legatee, 
"   Mary  Brown,  Legatee, 


Cr. 


Eliza  Brown,  Widow  of  Josiah  Brown,  died  April 
20th,  1900  ;  she  left  a  will  wherein  she  appointed 
her  daughter  Juliet  Brown,  Executrix,  and  be- 
queathed to  her  daughters,  Juliet  and  Mary,  share 
and  share  alike,  all  the  moneys  coming  to  her  from 
the  estate  of  Josiah  Brown. 


165 
165 
281 
187 
187 
187 
1,174 


18 
17 
28 
52 
52 
53 
20 


1,174 


20 


1,174 


20 


¥ 


8T 


JOURNAL,  page    28. 


MAY.  1900. 


2 

Cash, 

Dr. 

1,662 

50 

15 

2 

To  James  Smith, 

375 

00 

18 

"   Julia  Carter, 

187 

50 

23 

16 

'♦   Eliza  Thomas, 

562 

50 

24 

**   Susan  Abner, 

337 

50 

24 

*'   Martha  Elmer, 

200 

00 

l.(iG2 

50 

1,662 

50 

300 

2 

Cash, 

Cr. 

00 

12 

15 

By  George  Brown,  Legatee, 

100 

00 

13 

"   Juliet  Brown,  Legatee, 

100 

00 

14 

**   Mary  Brown,  Legatee, 

100 

00 

300 

00 

3U0 

00 

1,662 

3 

Interest, 

Cr. 

50 

15 

1 

By  James  Smith, 

6  months  interest  on  Bond  and  Mortgage, 

375 

00 

18 

By  Julia  Carter, 

6  months  interest  on  Bond  and  Mortgage, 

187 

50 

23 

15 

By  Eliza  Thomas, 

6  months  interest  on  Bond  and  Mortgage, 

562 

50 

24 

By  Susan  Abner, 

6  months  interest  on  Bond  and  Mortgage, 

337 

50 

24 

By  Martha  Elmer, 

6  months  interest  on  Bond  and  Mortgage, 

200 

00 

1,662 

50 

1,662 

60 

491 

16 

3 

Interest, 

Dr. 

11 

To  Eliza  Brown,  Widow, 

-^  of  interest  from  November  1st,  1899,  to 

April  20th,  1900, 

James  Smith, 

Julia  Carter, 

^  of  interest  from  November  15th,  1899, 

to  April  20th,  1900, 

Eliza  Thomas, 

Susan  Abner, 

Martha  Elmer, 

354  17 

172.08 

484.38 
290.62 
172.22 

^l 

1,473  47 

491 

16 

491 

16 

491 

16 

JOURNAL,  page    29. 


JUNE,  1900. 


Cash, 

To  Mary  Jones, 


Dr. 


15 


I      3 


Cash, 

By  Geo.  Brown,  Legatee, 
'*  Juliet  Brown,  Legatee, 
**   Mary  Brown,  Legatee, 


Cr. 


Interest, 
By  Mary  Jones, 
6  months  interest  on  Bond  and  Mortgage, 


Cr. 


Interest,  Dr. 

To  Eliza  Brown,  Widow, 

^  of  interest  from  December  1st,  1899,  to 

April  20th,  1900, 
Mary  Jones,  3)  194  44 


250 


250 


100 
100 
100 
300 


250 
250 


64 


64 


00 


00 


00 
00 
00 
00 


00 
00 


81 


250 
250 


300 


300 


250 


250 


00 
00 

00 


00 


00 


00 


64 
64 


81 
81 


89 


JOURNAL,  page   30. 


JULY,  1900. 


2 

22 

3 


26 


Cash,  Dr. 

To  Peter  Johnson, 
*'   Interest, 

Madison  Trust  Company,   interest  on  deposits  to 

June  30th, 


2 
12 
13 
14 

5 


16 


31 


Cash,  Cr. 

By  George  Brown,  Legatee, 
**  Juliet  Brown,  Legatee, 
*'   Mary  Brown,  Legatee, 
"   Expense  principal, 

Paid  John  Doe,  public  accountant,  for  writing  up 
books  and  preparing  Surrogate  account. 


3 
22 


3 
11 


25 


Interest, 

By  Peter  Johnson, 
6  months  interest  on  Bond  and  Mortgage, 


Cr. 


Interest,  Dr. 

To  Eliza  Brown,  Widow, 

^  of  interest  from  January  1st,  to  April 

20th,  1900, 

Madison  Trust  Company,  12.13 

From  January  25th,  to  April  20th,  1900, 

Peter  Johnson,  83. 61 


3)      95  74 


20 
1 


U.  S.  Bonds, 

To  Estate  of  Josiah  Brown, 
Balance  carried  to  principal, 


Dr. 


194 


194 

85 

200 

00 

200 

00 

200 

00 

250 

00 

850 

00 

175 


175 


31 


31 


5,200 


5,200 


85 


00 


00 


91 


91 


00 


00 


175 


19 
194 


850 


00 

85 
85 

00 


850 


175 


175 


00 


00 


00 


31 
31 


5,200 
5,200 


91 
91 


00 
00 


90 


JOURNAL,  page   31. 


AUGUST.  1900. 


Cash,  Dr. 

To  Eliza  Jenkins, 

In  full  for  principal  and  interest, 


Interest,  Cr, 

By  Eliza  Jenkins, 

6  months  interest  on  Bond  and  Mortgage, 


Interest, 

To  Eliza  Brown,  Widow, 

^  of  interest  from  February  1st,  to  April 

20th,  1900, 
Eliza  Jenkins,  3) 


Dr. 


88  89 


The  account  of  George  Brown,  surviving  executor  of 
the  estate  of  Josiah  Brown,  deceased,  was  filed 
with  the  Surrogate  of  New  York  County,  as  of 
August  1st,  1900. 


8,300 


8,200 


200 
200 


29 


29 


00 


00 


00 

00 


63 


63 


8,200 
8,200 


200 


200 


00 
00 

00 
"00" 


29 
29 


63 
63 


91 


JOURNAL,  page  32. 


Estate  of  Josiah  Brown, 
LEDGER   BALANCES   AS   OF   AUGUST   1st.  1900. 


1  Estate  of  Josiah  Brown, 

2  Cash, 

3  Interest, 

5  Expense  principal, 

7  Debts  owed  by  Testator, 

1 1  Eliza  Brown,  Widow, 

12  George  Brown,  Legatee, 
l-'i  Juliet  Brown,  Legatee, 

14  Mary  Brown,  Legatee, 

15  James  Smith, 
10  Mary  Jones, 

18  Julia  Carter, 

19  Clara  A.  Ertland, 

22  Peter  Johnson, 

23  Eliza  Thomas, 

24  Susan  Abner, 
Martha  Elmer, 


Dr. 
9,840 

1,892 

287 

400 

400 

400 

15,000 

10,000 

7,600 

20,000 

7,000 

25,000 

15,000 

8,000 

120,721 


74 

56 
85 

00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
15 


Cr. 
118,413 

1,689 
617 


120,721 


80 

84 

51 


15 


JOURNAL,   page    33. 


SEPTEMBER,    1900. 


2 

15 


20 


15 


Cash, 

To  Clara  A.  Ertland, 
**    Interest, 

Madison  Trust  Co. ,  interest  on  deposits, 


Dr. 


Cash,  Cr. 

By  Expenses  principal, 

Paid  Smith  &  Jones,  for  legal  services  and 
disbursements,  as  per  decree, 

By  George  Brown,  Executor, 

Commissions  on  principal,  1,374.13 

"  "  income,  130.19 

By  Juliet  Brown,  Executrix, 

Commission  on  principal  allowed  to  Eliza 
Brown,  Executrix,  deceased. 

By  Juliet  Brown,  Executrix, 

Accrued  income  to  April  20th,  1900,  be- 
longing to  Eliza  Brown,  deceased. 

By  George  Brown,  Legatee, 

Cash  to  balance  share  of  principal, 

By  George  Brown,  Legatee, 
Balance  of  income  in  full, 

By  Juliet  Brown,  Legatee, 

Cash  to  balance  share  of  principal, 

By  Juliet  Brown,  Legatee, 
Balance  of  income  in  full, 

By  Mary  Brown,  Legatee, 

In   dividing  the   principal,  the   securities 
and  accrued  interest  allotted  to  her,  ex- 
ceeded her  share  of  principal  by  393.06 
Leaving  as  balance  of  income, 


Interest,  Cr. 

By  Clara  A.  Ertland, 

6  months,  15  days  interest  on  Bond  and  Mortgage, 
By  James  Smith, 

Accrued  interest  from  May  1st,  to  September  15th, 
By  Julia  Carter, 

Accrued  interest  from  May  1st,  to  September  15th, 
By  Eliza  Thomas, 

Accrued  interest  from  May  15th,  to  September  15th, 
By  Susan  Abner, 

Accrued  interest  from  May  15th,  to  September  15th, 
By  Martha  Elmer, 

Accrued  interest  from  May  15th,  to  September  15th, 
By  Mary  Jones, 

Accrued  interest  from  June  1st,  to  September  15th, 
By  Peter  Johnson, 

Accrued  interest  from  July  25th,  to  September  15th, 


624 


524 


60 


60 


350 
1,504 

1,374 

663 
2,445 

743 
2,190 

743 

350 
10,365 

541 
281 
140 
375 
225 
133 
145 

49_ 

1,892 


00 

32 

13 

80 
04 
41 

88 
41 


35 

34 


67 
25 
62 
00 
00 
33 
83 

57 

27 


500 

24^ 

524 

10,365 


00 

60 
60 

34 


10,365 


1,892 


34 


27 


1,892 


27 


93 


JOURNAL,  page  34. 


SEPTEMBER,    1900. 


15 


15 


15 


15 


Interest,  Dr. 

To  Eliza  Brown,  Widow, 

i  of  interest  from   March  1st,    to  April 

20th,  1900,  on  Bond  and  Mortgage, 

Clara  A.  Ertland,  3)     138.39 

To  Income, 

Balance  of  account, 


Income,  Dr. 

To  Commissions, 
**    George  Brown,  Legatee, 
**    Juliet  Brown,  Legatee, 
*'    Mary  Brown,  Legatee, 


Commissions,  *       Dr. 

To  George  Brown,  Executor, 

One  commission  on  $118,413.80, 

5%  on  $1,000.00,  50.00 

2j4  %  on  next,  $10,000.00,  250.00 

1%  on  balance,  $107,413.80,  1,074.13 

To  Eliza  Brown,  Executrix, 

One  commission  on  $118,413.80, 
To  George  Brown,  Executor, 

One  commission  on  $4,324.22, 

Income  from  March  31st,  1900, 


Estate  of  Josiah  Brown, 
To  Expense  principal, 
' '   Debts  owed  by  Testator, 
'*   Commissions, 
**   George  Brown,  Legatee, 
'*   Juliet  Brown,  Legatee, 
**   Mary  Brown,  Legatee, 


Dr. 


3,606 


3,606 


3,560 


3,560 


2,878 


2,878 


118,413 


118,413 


71 


71 


42 


42 


45 


45 


80 


80 


46 
3,560 


3,606 


130 
1,143 
1,143 
1,143 


3,560 


1,374 

13 

1,374 

13 

130 

19 

2,878 

45 

2,242 

56 

287 

85 

2,748 

26 

37,711 

71 

37,711 

71 

37,711 

71 

118,413 

80 

94 


JOURNAL,  page    35. 


SEPTEMBER.  1900. 


9 

9 

11 


12 
19 
24 


13 
23 

16 


14 
15 
18 
22 
24 


15 


Juliet  Brown,  Executrix, 
By  Eliza  Brown,  Executrix, 
"   Eliza  Brown,  Widow, 


20 


George  Brown,  Legatee, 
To  Clara  A.  Ertland, 
"   Susan  Abner, 


20 


Juliet  Brown,  Legatee, 
To  Eliza  Thomas, 
*•   Mary  Jones, 


20 


Mary  Brown,  Legatee, 
To  James  Smith, 
*'   Julia  Carter, 
**   Peter  Johnson, 
"   Martha  Elmer, 


Cr. 


Dr. 


Dr. 


Dr. 


1,374 
663 


2,037 


35,266 


35,266 


35,520 


35,520 


38,104 


38,104 


13 
80 
93 


67 


67 


83 


83 


77 


77 


2,037 


2,037 


20,041 
15,225 


35,266 


25,375 
10,145 


35,520 


15,281 
7,640 
7,049 
8,133 

38,104 


93 


93 


67 
00 


67 


00 
83 


83 


25 
62 
57 
33 

77 


95 


.d^iiliSl 


LEDGER 


I 


97 


■MSim^ 


INDEX    TO    LEDGER. 


PAGE. 

PAGE. 

Abner,  Susan, 

24 

Income, 

4 

• 

Interest, 

3 

Brown,  Josiah,  Estate  of, 

1 

Brown,  Eliza,  Executrix, 

9 

Jones,  Mary, 

16 

Brown,  Eliza,  Widow, 

11 

Jenkins,  Eliza, 

17 

Brown,  George,  Executor, 

10 

Johnson,  Peter, 

22 

Brown,  George,  Legatee, 

12 

Brown,  Juliet,  Legatee, 

13 

Brown,  Mary,  Legatee, 

14 

Bonds,  U.  S., 

20 

Mutual  Savings  Bank, 

20 

Brown,  Juliet,  Executrix, 

9 

Cash, 

2 

Smith,  James, 

15 

Carter,  Julia, 

18 

Smithers,  James, 

21 

Commissions, 

8 

Sand  Hill  Bank, 

21 

Debts  Owed  by  Testator, 

7 

Thomas,  Eliza, 

23 

Expenses,  Principal, 

5 

Expenses,  Income, 

6 

Elmer,  Martha, 

24 

Ertland,  Clara  A., 

19 

• 

Friends  Savings  Bank, 

20 

' 

09 


LEDGER,  page  j. 


Dr. 


ESTATE    OF    JOSIAH    BROWN. 


Cr. 


1900. 
Sept. 


15 


I 


■ 


To  Expense, 
"   Debts, 
*  *  Comm. , 
"   G.  B.  Leg., 
•'  J.  B.  Leg., 
"   M.  B.  Leg., 


2,242 

287 

2,748 

37,711 

37,711 

37,711 


118.413 


56 
85 
26 
71 
71 
71 


80 


1898. 
Mar. 


May 

June 

July 

Aug. 

Sept. 

Oct. 

1900. 

July 


16 


By  Jas.  Smith, 
Mary  Jones, 
Eliza  Jenkins, 
Julia  Carter, 
C.  A.  Ertland, 
U.  S.  Bonds, 
M.  Sav  Bank, 
F.     **         '* 
Sand  Hill  " 
Interest, 


J.  Smithers, 
*♦   U.  S.  Bonds, 


3 
3 
3 
3 
3 
3 
3 
3 
3 
4 
5 
6 
7 
8 
9 

30 


15,000 

10,000 

8,000 

7,500 

20,000 

42,000 

3,500 

3,500 

875 

621 

145 

58 

50 

41 

1,920 

5.200 
118,413 


I 


101 


LEDGER,  page  2. 


2)r. 

CASH. 

Ct. 

1898. 

1898. 

April 

1 

To  S.  H.  Bank 

3 

875 

20 

May 

31 

By  Sundries 

4 

732 

05 

May 

31 

Sundries 

4 

962 

50 

June 

30 

<( 

5 

85 

00 

June 

30 

Mary  Jones 

5 

250 

00 

July 

31 

P.  Johnson 

6 

7,000 

00 

July 

31 

Sundries 

6 

7,140 

00 

Aug. 

31 

Sundries 

7 

370 

50 

Aug. 

31 

(( 

7 

600 

00 

Sept. 

30 

<i 

8 

1,408 

56 

Sept. 

30 

C.  A.  Ertland 

8 

500 

00 

Oct. 

31 

<( 

9 

610 

00 

Oct. 

31 

J.  Smithers 

9 

1,980 

00 

Nov. 

30 

<t 

10 

48,853 

80 

Nov. 

30 

Sundries    , 

10 

48,162 

50 

Dec. 

31 

(i 

11 

329 

00 

Dec. 
1899. 

31 

<( 

11 

250 

00 

1899. 

Jan. 

31 

Sundries 

12 

198 

87 

Jan. 

31 

Sundries 

12 

280 

00 

Feb. 

28 

<( 

13 

200 

00 

Feb. 

28 

(t 

13 

280 

00 

Mar. 

31 

C.  A.  Ertland 

14 

500 

00 

Mar. 

31 

<( 

14 

297 

50 

31 

To  Balance 

07 
66 

April 

30 

By  Balance 
By  Sundries 

16 

1,372 

66 

61,619 

61,619 

07 

Mar. 

1,372 

389 

27 

May 

31 

Sundries 

16 

1,662 

50 

May 

31 

16 

360 

00 

June 

30 

M.  Jones 

17 

250 

00 

June 

30 

17 

360 

00 

July 

31 

P.  Johnson 

18 

190 

75 

July 

31 

18 

360 

00 

Aug. 

31 

E.  Jenkins 

19 

200 

00 

Aug. 

31 

19 

360 

00 

Sept. 

30 

C.  A.  Ertland 

20 

500 

00 

Sept. 

30 

20 

360 

00 

Nov. 

30 

Sundries 

21 

1,662 

50 

Oct. 

31 

20 

360 

00 

Dec. 
1900. 

31 

M.  Jones 

22 

250 

00 

Nov. 
Dec. 

1900. 

30 
31 

21 
22 

816 
360 

50 

00 

Jan. 

31 

Sundries 

23 

191 

30 

Jan. 

31 

Sundries 

23 

360 

00 

Feb. 

28 

E.  Jenkins 

24 

200 

00 

Feb. 

28 

(( 

24 

360 

00 

Mar. 

31 

C.  A.  Ertland 

25 

500 

00 

Mar, 

31 

<( 

25 

376 

35 

31 

To  Balance 

71 

April 

30 

By  Balance 
By  Sundries 

27 

2,157 

59 

6,979 

6,979 

71 

1900. 
Mar. 

2,157 

59 

1,174 

20 

May 

31 

Sundries 

28 

1,662 

50 

May 

31 

<( 

28 

300 

00 

June 

30 

M.  Jones 

29 

250 

00 

June 

30 

(< 

29 

300 

00 

July 

31 

Sundries 

30 

194 

85 

July 

31 

(( 

30 

850 

00 

Aug. 

1 

E.  Jenkins 

31 

8,200 

00 

Sept. 

20 

<( 

33 

10,365 

34 

Sept. 

15 

Siindries 

33 

524 

12,989 

60 

54 

12,989 

54 

102 


LEDGER,  page  3. 


Dr. 


INTEREST. 


Cr. 


1898. 

1898. 

May- 

31 

To  Estate  J.  B. 

4 

621 

87 

May 

31 

By  Sundries 

4 

962 

50 

June 

30 

<(         <(         ( t 

6 

145 

83 

June 

30 

*'  M.  Jones 

6 

250 

00 

July 

31 

((         ((         it 

6 

58 

33 

July 

31 

'*  Sundries 

6 

140 

00 

Aug. 

31 

<(         it         (( 

7 

50 

00 

Aug. 

31 

i(         (< 

7 

600 

00 

Sept. 

30 

((                 (<                 n 

8 

41 

67 

Sept. 

30 

«♦  C.  A.  Ertland 

8 

600 

00 

1899. 

Oct. 

31 

"J.  Smithers 

9 

59 

10 

Mar. 

31 

To  Income 

14 

3,706 

27 

Nov. 

30 

**  Sundries 

10 

962 

50 

Dec. 

31 

"  M.  Jones 

11 

250 

00 

1899. 

Jan. 

31 

*'  Cash 

*'  P.  Johnson 

12 
12 

23 

175 

87 
00 

Feb. 

28 

"  E.  Jenkins, 

13 

200 

00 

31 

To  Income 

25 

Mar. 
May 

1 
31 

♦*  C.  A.  Ertland 
By  Sundries 

14 
16 

500 

00 

1900. 

4,622 

97 

4,622 

97 

Mar. 

5,607 

05 

1,662 

50 

June 

30 

"  M.  Jones 

17 

250 

00 

July 

31 

"  P.  Johnson 
'•  Cash 

18 
18 

176 
16 

00 

76 

Aug. 

31 

'♦  E.  Jenkins 

19 

200 

00 

Sept. 

30 

'*  C.  A.  Ertland 

20 

500 

00 

Nov. 

30 

**  Sundries 

21 

1,662 

60 

Dec. 

31 

'*  M.  Jones 

22 

250 

00 

1900. 

Jan. 

31 

**  P.  Johnson 
*'  Cash, 

23 
23 

175 

16 

00 
30 

Feb. 

28 

*•  E.  Jenkins 

24 

200 

00 

31 

To  Eliza  Brown 

28 

Mar. 
May 

31 
31 

"  C.  A.  Ertland 
••  Sundries 

25 
28 

500 

00 

1000. 

5,607 

06 
16 

5,607 

05 

May 

491 

1,662 

50 

June 

30 

((       it        >( 

29 

64 

81 

June 

30 

**  M.  Jones 

29 

250 

00 

July 

31 

<(      (<        <( 

30 

31 

91 

July 

31 

"  Cash 

30 

19 

85 

Aug. 
Sept. 

1 
15 

((              (4                  It 

31 
34 

29 
46 

63 
29 

Aug. 

1 

'*  P.  Johnson 
"  E.  Jenkins 

30 
31 

175 
200 

00 
00 

To  Income 

(( 

3,660 

42 

Sept. 

16 

♦'  Cash 
*•  Sundries 

33 
33 

24 
1,892 

60 

27 

4,224 

22 

4,224 

22 

1 

103 


LEDGER,  page  4. 


2)r. 


INCOME. 


<rr. 


1899. 
Mar. 


31 


1900. 

Mar. 


31 


Sept. 


15 


To  Expense, 
"   Commis  , 
•*   Eliza  Brown, 
"  G.  B.,  Leg., 
'*  J.  B.,  Leg., 
'♦   M.  B.,  Leg., 

To  Expense, 
•'  Commis., 
"   E.  B., Widow, 
"   G.  B.,  Leg., 
-  J.  B.,  Leg., 
"   M.  B.,  Leg., 

To  Commis., 
*'  G.  B.,  Leg., 
"  J.  B..  Leg., 
"   M.  B.,  Leg., 


476 
235 
998 
665 
665 
665 


3,705 


472 
330 
1,601 
1,067 
1,067 
1,067 


6,607 


130 
1,143 
1,143 
1,143 
3,560 


00 
26 
00 
33 
34 
34 

27 


85 

35 

28 

52 

52 

53^ 

05 


19 
41 
41 
41 
42 


1899. 
Mar. 


1900. 
Mar. 


Sept. 


31 


31 


15 


By  Interest, 


14 


3,705 


27 


By  Interest, 


25 


3,705 
5,607 


27 
"05" 


By  Interest, 


34 


5,607 
3,560 


3,560 


05 


42 


104 


LEDGER,  page  5. 


H)r. 


EXPENSE    PRINCIPAL. 


Cr. 


1898. 
May- 


Sept. 

Oct. 

Dec. 

1900. 

July 

Sept. 


10 

15 

14 
15 
15 

31 

15 


To  Cash, 


4 
4 
4 
4 
8 
9 
11 

30 
33 


195 
25 
25 
50 
1,048 
250 
49 

250 

350 

2,242 


I 


00 
00 
00 
00 
56 
00 
00 

00 
00 
56 


1900. 
Sept. 


15 


By  Estate  J.  B. 


34 


k 


105 


LEDGER,  page  6. 


H)r» 


EXPENSE   INCOME. 


Cr. 


1898. 
Aug. 
Nov. 
1899. 
Mar. 

Nov. 
1900. 
Mar. 


1 
30 

31 

30 
25 


To  Cash, 


Taxes, 


To  Cash, 


7 
10 

14 

21 
25 


10 
448 


17 

50 

476 

00 

456 
16 

50 
35 

472 

85 

50 
00 


1899. 
Mar. 


1900. 
Mar. 


31 


31 


By  Income, 


By  Income, 


14 


25 


476 


476 

"472" 


472 


00 


00 
"85" 


85 


106 


J»A 


LEDGER,  page  7. 


2)r. 


DEBTS  OWED  BY  TESTATOR. 


(Tr* 


1898. 
May- 


June 
Nov. 


25 


15 
10 


To  Cash, 


1900. 
Sept. 


15 


By  Estate  J.  B. 


34 


287 


287 


85 


85 


107 


LEDGER,  page  8. 


2)r. 


COMMISSIONS. 


Ct. 


1899. 
Mar. 

1900. 
Mar. 

Sept. 


31 

31 
15 


To  Sundries, 

To  Sundries, 
To  Sundries, 


235 

26 

330 

35 

2,878 

45 

2,878 

45 

1899. 
Mar. 

1900. 
Mar. 

Sept. 


By  Income, 

By  Income, 

By  Income, 
By  Estate  J.  B. 


14 

25 
34 


235 

26 

330 

35 

130 

2,748 

19 
26 

2,878 

45 

108 


Br, 


LEDGER,  page  9. 


ELIZA  BROWN,  Exbcutrix, 


Cr. 


1899. 
April 

10 

10 
15 

To  Cash, 
«♦   J.  B.,  Ex., 

16 

27 
35 

117 

63 

18 
13 

1899. 
Mar. 

1900. 
Mar. 
Sept. 

31 

31 
15 

By  Com., 
By  Com., 

14 

25 
34 

117 

63 

1900. 
April 
Sept. 

165 
1,374 

165 
1,374 

18 
13 

1,539 

31 

1,539 

31 

2)r. 


JULIET  BROWN,  Executrix, 


Cr. 


1900. 
Sept. 


20 


To  Cash 


33 

1,374 
663 

13 

80 

1900. 
Sept. 

16 

2.037 

93 

By  E.  B.  Exec, 
♦•   E.  B.  Widow, 


1,374 
663 


2,037 


13 

80 


93 


109 


r' 


LEDGER,  page  lo. 


S)r. 


GEORGE  BROWN,   EXECUTOR. 


Ct. 


1899. 
April 

1900. 
April 
Sept. 


10 

10 
20 


To  Cash, 


IG 

27 
33 


117 


165 
1,504 

1,669 


63 


17 
32 

49" 


1899. 
Mar. 

1900. 
Mar. 
Sept. 


By  Commission, 
By  Commission, 


117 


165 
1,374 

130 
1,669 


63 

17 
13 
19 

49 


110 


LEDGER,   page  ii. 


Dr. 


ELIZA   BROWN,  WIDOW. 


(Tr. 


15 
15 
15 
15 
15 
15 

15 
15 
31 


10 
15 
15 
15 
15 
15 
15 
15 
15 

15 
15 
15 

;^i 

10 
15 


To  Cash, 


To  Balance, 


To  Cash. 


To  Balance, 

To  Cash, 
"  J.  B.  Exec. 


120 
120 
120 
120 
100 
100 

100 

100 

100 

18 


998 


18 
120 
120 
120 
120 
120 
120 
120 
120 

120 
120 
120 
281 


1,619 


281 
663 


945 


00 
00 
00 
00 
00 
00 

00 
00 
00 
00 
00 


1899. 
Mar. 


00 
00 
00 
00 
00 
00 
00 
00 
00 

00 
00 
00 
28 


28_ 

28" 
80 


08 


1899. 

Mar. 
1900. 
Mar. 


31 


By  Income, 


14 


998 


00 


1900. 

Mar. 
May 
June 
July 
Aug. 
Sept. 


By  Balance, 
**  Income. 


25 


998 
18" 

1,601 


By  Balance, 
Interest, 


28 
29 
30 
31 
34 


1,619 

281 

491 

64 

31 

29 

46_ 

945 


111 


LEDGER  page  12. 


H)r. 


GEORGE   BROWN.  LEGATEE. 


dr. 


1898. 

1899. 

May 

15 

To  Cash, 

4 

80 

00 

Mar. 

31 

By  Income, 

14 

665 

33 

Aug. 

16 

it             n 

7 

80 

00 

Sept. 

15 

((         11 

8 

80 

00 

Oct. 

15 

((          <( 

9 

80 

00 

Nov. 

15 

(i          <( 

10 

60 

00 

Dec. 

15 

(<          (< 

11 

60 

00 

1899. 

Jan. 

15 

(<          ((                « 

12 

60 

00 

Feb. 

15 

(<         (( 

13 

60 

00 

Mar. 

15 

((          <( 

14 

60 

00 

31 

10 

To  Balance^ 
To  Cash, 

16 

45 

33 

1899. 
Mar. 

31 

By  Balance, 

665 

33 

665 

33 

April 

45 

33 

45 

33 

May 

15 

17 

8<.^ 

00 

1900. 

June 

15 

17 

80 

00 

Mar. 

31 

' '   Income, 

25 

1,067 

52 

July 

15 

18 

80 

00 

Aug. 

15 

19 

80 

00 

Sept. 

15 

20 

80 

00 

Oct. 

15 

20 

80 

00 

Nov. 

15 

21 

80 

00 

Dec. 

15 

22 

80 

00 

1900. 

Jan. 

15 

23 

80 

00 

Feb. 

15 

24 

80 

00 

Mar. 

15 

25 

80 

00 

31 
10 

To  Balance^ 
To  Cash, 

27 

187 

52 

85 
52 

1900. 
Mar. 

31 

By  Balance, 

1900. 

1,112 

1,112 

85 

April 

187 

187 

52 

May 

15 

28 

100 

00 

Sept. 

15 

*  *   Income, 

25 

1,143 

41 

June 

15 

29 

100 

00 

*'   Estate  J.  B. 

34 

37,711 

71 

July 

15 

30 

200 

00 

Sept. 

20 

"   C.  A.  Ertland 
"   S.  Abner, 

33 
35 

2,445 

743 

20,041 

15,225 

04 
41 
67 
00 
64 

39,042 

39,042 

64 

113 


LEDGER,    page  13. 


H)r. 


JULIET   BROWN,    LEGATEE. 


CC. 


1898. 

1899. 

May 
Aug. 

15 
15 

To  Cash, 

4 

7 

80 
80 

00 
00 

Mar. 

31 

By  Income, 

14 

665 

34 

Sept. 

15 

<<       (< 

8 

80 

00 

Oct. 

15 

((       i( 

9 

80 

00 

Nov. 

15 

((       (( 

10 

60 

00 

Dec. 

15 

((       (( 

11 

60 

00 

1899. 

Jan. 

15 

(<       (< 

12 

60 

00 

Feb. 

15 

((       << 

13 

60 

00 

Mar. 

15 

((       t( 

14 

60 

00 

31 
10 

To  Balance^ 
To  Cash, 

16 

45 

34 

1899. 
Mar. 

31 

By  Balance, 

605 

34 
34 

665 

34 

April 

45 

45 

34 

May 

15 

16 

80 

00 

1900. 

June 

15 

17 

80 

00 

Mar. 

31 

**    Income, 

35 

1,067 

52 

July 
Aug. 

15 
15 

18 
19 

80 
80 

00 
00 

Sept. 

15 

20 

80 

00 

Oct. 

15 

20 

80 

00 

Nov. 

15 

21 

80 

00 

Dec. 

15 

22 

80 

00 

1900. 

Jan. 

15 

It       it 

23 

80 

00 

Feb. 

15 

((       (( 

24 

80 

00 

Mar. 

15 

25 

80 

00 

31 
10 

To  Balance^ 
To  Cash, 

27 

187 

52 
86 
52 

1900. 
Mar. 

ni 

By  Balance, 

1900 

1,112 

1,112 

86 

April 
May 

187 

187 

52 

15 

(C              << 

28 

100 

00 

Sept. 

15 

By  Income, 

34 

1,143 

41 

June 

15 

((          (( 

29 

100 

00 

"   Estate  J.  B. 

34 

37,711 

71 

July 

15 

((          ( t. 

30 

200 

00 

Sept. 

20 

((         (< 

"   Ca.h, 

"    E.  Thomas, 

"   M.  Jones, 

33 
35 

35 
35 

743 

2,190 
25,375 
10,145 

41 
88 
00 
83 
64 

39,042 

39,042 

64 

118 


LEDGER,    page  14. 


2)r. 


MARY   BROWN,    LEGATEE. 


Cr. 


1898. 

1899. 

May 

15 

To  Cash, 

4 

80 

00 

Mar. 

31 

By  Income, 

14 

665 

34 

Aug. 

15 

(<       (< 

7 

80 

00 

Sept. 

15 

(<       (< 

8 

80 

00 

Oct. 

15 

((       <( 

9 

80 

00 

Nov. 

15 

<(       (( 

10 

60 

00 

Dec. 

15 

((       (( 

11 

60 

00 

1899. 

Jan. 

15 

((           a                      % 

12 

60 

00 

Feb. 

15 

((          (( 

13 

60 

00 

Mar. 

15 

((          (( 

14 

60 

00 

31 

10 

To  Balance^ 
To  Cash 

16 

45 

34 

1899. 
Mar. 

31 

By  Balance^ 

666 

34 

665 

34 

April 

45 

34 

45 

34 

May- 

15 

<<       (( 

16 

80 

00 

1900. 

June 

15 

((       <( 

17 

80 

00 

Mar. 

31 

'  *   Income, 

25 

1,067 

53 

July 

15 

((       (< 

18 

80 

00 

Aug. 

15 

<(       (< 

19 

80 

00 

Sept. 

15 

i<       (( 

20 

80 

00 

Oct. 

15 

((       (( 

20 

80 

00 

Nov. 

15 

((       (( 

21 

80 

00 

Dec. 

15 

<(       (< 

22 

80 

00 

1900. 

Jan. 

15 

<(       <( 

23 

80 

00 

Feb. 

15 

((       (( 

24 

80 

00 

Mar. 

15 

((       (( 

25 

80 

00 

31 
10 

To  Balance^ 
To  Cash, 

27 

187 

53 
87 
53 

1900. 
Mar. 

31 

By  Balance^ 

1900. 

1,112 

1,112 

87 

April 

187 

187 

53 

May 

15 

((       (< 

28 

100 

00 

Sept. 

15 

By  Income, 

34 

1,143 

41 

June 

15 

<(       <( 

29 

100 

00 

"   Estate  J.  B. 

34 

37,711 

71 

July 

15 

<(       (( 

30 

200 

00 

Sept. 

20 

"J.  Smith, 
"  J.  Carter, 
"   P.  Johnson, 
'*   M.  Elmer, 

33 
35 
35 
35 
35 

350 

15,281 

7,640 

7,049 

8,133 

35 
25 
62 
57 
33 
65 

39,042 

39,042 

65 

lU 


LEDGER,  page  15. 

H)r»  JAMES   SMITH,  Qt* 

Loan  on  Bond  and  Mortgage,  on  premises  23  Fourth  Avenue,  N.  Y.  City,  Manhattan 
Borough,  interest  5%  per  annum,  payable  semi-annually.  May  ist,  and  November  ist, 
principal  due  November  ist,  igo2. 


1898. 
Mar. 
May 
Nov. 
1899. 
May 
Nov. 
1900. 
May 
Sept. 


To  Est.  of  J.  B., 
Interest. 


15,000 
375 
375 

375 
375 


375 

281 

17,156 


00 
00 
00 

00 
00 

00 
25 
25 


1898. 
May 
Nov. 
1899. 
May 
Nov. 
1900. 
May 
Sept. 


By  Cash, 
<(       (t 


<(       (( 


M.  B.,  Leg., 


lis 


LEDGER,  page  i6. 


2)|J^  MARY  JONES, 

Loan  on  Bond  and  Mortgage,  on  premises  zij  Chambers  Street,  Borough  of  Manhattan, 
N.  Y.  City,  interest  5%  per  annum,  payable  semi-annually,  June  ist,  and  December  ist, 
principal  due  December  ist,  igoi. 


Cv* 


1898. 
Mar. 
June 
Dec. 
1899. 
June 
Dec. 
1900. 
June 
Sept. 


16 
1 
1 

1 
1 

1 
15 


To  Est.  of  J.  B., 
Interest, 


10,000 
250 
250 

250 
250 


250 

145 

11,395 


00 
00 
00 

00 
00 

00 

83 


1898. 
June 
Dec. 
1899. 
June 
Dec. 
1900. 
June 
Sept. 


By  Cash, 


<(       t( 


J.  B.,  Leg., 


00 
00 

00 
00 

00 
83 

"83" 


116 


LEDGER,  page  17. 

2)t,  ELIZA  JENKINS, 

Loan  en  Bond  and  Mortgage,  on  premises  42^  Third  Avenue,  Borough  of  Manhattan, 
N.  Y.  City,  interest  5% per  annum,  payable  semi-annually,  Angust  jst,  and  February  ist, 
principal  due  August  ist,  igoo. 


Ct. 


1898. 
Mar. 
Aug. 
1899. 
Feb. 
Aug. 
1900. 
Feb. 
Aug. 


16 
1 

1 

1 

1 

1 


To  Estate  of  J.  B., 

"  Interest, 


8,000 
200 

200 
200 

200 

200 

9,000 


00 
00 

00 
00 

00 
00 
00 


1898. 

Aug. 

1899. 

Feb. 

Aug. 

1900. 

Feb. 

Aug. 


By  Cash, 


00 

00 
00 

00 
00 

00" 


117 


LEDGER,    page  i8. 

'^X,  JULIA   CARTER. 

Loan  on  Bond  and  Mortgage,  on  premises  187  Bleecker  Street,  Bortugh  of  Manhattan, 
N.  Y.  City,  interest  5%  />er  annum,  payable  semi-annually.  May  1st,  and  November  ist, 
principal  due  May  ist,  jgo2. 


Cr. 


1898. 

Mar. 

May 

Nov. 

1899. 

May 

Nov. 

1900. 

May 

Sept. 


16 
1 
1 

1 
1 

] 

15 


To  Estate  of  J.  B, 
Interest, 


00 
60 
50 

50 
50 

50 
12 


1898. 
May 
Nov. 
1899. 
May 
Nov. 
1900. 
May 
Sept. 


By  Cash, 


"  M.  B.,  Leg., 


118 


LEDGER,  page  19. 

2)j.^  CLARA  A.  ERTLAND, 

Loan  on  Bond  and  Mortgage,  on  premises  8j  West  2jrd  Street,  Borough  of  Manhattan, 
City  of  N.  v.,  interest  5%  per  annum,  payable  semi-annually,  September  ist,  and  March 
1st,  principal  due  March  ist,  igoi. 


Cr. 


1898. 
Mar. 
Sept. 
1899. 
Mar. 
Sept. 
1900. 
Mar. 
Sept. 


16 
1 

1 
1 

1 

1 

15 


To  Est.  of  J.  B., 
**    Interest. 


20,000 
500 

500 
500 

500 
500 

41^ 

22,541 


00 
00 

00 
00 

00 
00 

67 


1898. 
Sept. 
1899. 
Mar. 
Sept. 
1900. 
Mar. 
Sept. 


By  Cash, 


G 


B.,  Leg., 


119 


LEDGER,  page  20. 

2)r,  U.  S.  BONDS, 

40  Bonds  $1,000  each,  due  August,  igio,  interest  4%  per  annum,  payable   quarterly. 
May  1st,  August  jst,  November  jst,  and  February  ist. 


dr. 


1898. 

1898. 

Mar. 

16 

To  Est.  of  J.  B., 

3 

43,000 

00 

May 

2 

By  Cash, 

4 

400 

00 

May 

1 

*'   Interest, 

4 

400 

00 

Aug. 

1 

((       1 1 

7 

400 

00 

Aug. 

1 

((         <( 

7 

400 

00 

Nov. 

2 

u          u 

10 

400 

00 

Nov. 

1 

i(         (( 

10 

400 

00 

<(         (i 

47,200 

00 

1900. 
July 

31 

To  Est.  of  J.  B., 

30 

5,200 

00 

48,400 

00 

48,400 

00 

Dr. 


MUTUAL  SAVINGS  BANK, 


Cr. 


1898. 
Mar. 
July 


To  Est.  of  J.  B., 
'  *   Interest, 


3 
6 

3,500 
70 

00 
00 

1898. 
July 

20 

3,570 

00 

By  Cash, 


3,570 


3,670 


00 

oo" 


Dr. 


FRIENDS   SAVINGS   BANK, 


Cr. 


1898. 
Mar. 
July 


To  Est.  of  J.  B., 
'•   Interest, 


3 

6 

3,500 
70 

00 
00 
00 

1898 
July 

20 

3,570 

By  Cash, 


3,570 


3,670 


00 


00 


120 


LEDGER,  page  21. 


3S>r. 


JAMES   SMITHERS. 
Note  for  $2,000.00,  due  February  2nd,  iSgy,  appraised  no  value. 


Ct. 


1898. 
Oct. 

31 

To  Est.,  of  J.  B., 
' '   Interest, 

9 
9 

1,920 
59 

90 
10 

1898. 
Oct. 

1 

1 

15 

By  Cash, 

9 

1,980 

00 

1,980 

00 

1,980 

00 

Di\ 


SAND   HILL  BANK, 


Cv* 


1898. 
Mar. 


16 


To  Est,  of  J.  B., 


875 


20 


1898. 
April 


By  Cash, 


875 


20 


121 


LEDGER,  page  22. 

2)|.^  PETER  JOHNSON,  147  Broadway,  N.  Y., 

Loan  on  Bond  and  Mortgage,  on  premises  i8  South  8gth  Street,  Borough  of  Manhattan, 
City  of  New  York,  forj  years,  interest  ^% per  annum,  payable  semi-annually,  fanuary 
2^th,  and  July  2jth, 


Ct* 


1898. 

July 

1899. 

Jan. 

July 

1900. 

Jan. 

July 

Sept. 


25 

25 
25 

25 
25 
16 


To  Cash, 
*'  Interest, 


7,000 

175 
175 

175 

175 

49 


7,749 


00 

00 
00 

00 
00 

57 
57 


1899. 

Jan. 

July 

1900. 

Jan. 

July 

Sept. 


By  Cash, 


"  M.  B.  Leg., 


00 
00 

00 
00 
57 


57 


122 


LEDGER,  page  23. 

2)r.  ELIZA  THOMAS,  18  North  89th  Street, 

Loan  on  Bond  and  Mortgage,  on  premises  i8  North  8gth  Street,  Borough  of  Manhattan, 
N.  Y.  City,  for  ^  years,  interest  \]^%  per  annum,  payable  semi-annually.  May  i^th,  and 
November  ijtk. 


Cr. 


1898. 
Nov. 
1899. 
May 
Nov. 
1900. 
May- 
Sept. 


15 

15 
15 

15 
15 


To  Cash, 
"  Interest, 


25,000 

562 
562 

562 

375 

27,062 


00 

50 
50 

50 
00 
60 


1899. 
May 
Nov. 
1900. 
May 
Sept. 


By  Cash, 


((       (< 


"  J.  B.  Leg., 


138 


LEDGER,  page  24. 


JS>t,  MARTHA  ELMER,  18  Bronson  Street, 

Loan  on  Bond  and  Mortgage,  on  premises  i8  Bronson  Street,  Borough  of  Manhattan, 
N.  Y.  City,  for  J  years,  interest  5%  per  annum,  payable  semi-annually.  May  i^th,  and 
November  i^th. 


dr. 


1898. 

Nov. 

1899. 

May 

Nov. 

1900. 

May 

Sept. 


15 

15 
15 

15 
15 


To  Cash, 
'*  Interest, 


10 

IG 
21 

28 
33. 

8,000 

200 
200 

200 
133 

00 

00 
00 

00 
33 

1899. 
May 
Nov, 
1900. 

!  May 
j  Sept. 

1 

16 
16 

16 

30 

8,733 

33 

By  Cash, 
"  M.  B.  Leg., 


200 
200 

200 
8,133 


8,733 


2)t.  SUSAN  ABNER,  23   St.  George  Avenue, 

Loan  on  Bond  and  Mortgage,  on  premises  2  j  St.  George  Avenue,  Borough  of  Manhattan, 
A\  Y.  City,  interest  Ayi  %  per  annum,  payable  semi-annually.  May  ijth,  and  Novem- 
ber i^th. 


Cr. 


1898. 
Nov. 
1899. 
May 
Nov. 
1900. 
May 
Sept. 


15 

15 
15 

15 

15 


To  Cash, 
**  Interest, 


10 

16 
21 

28 
33 

15,000 

337 
337 

337 
225 

1 
00 

50 
50 

50 
00 
50 

1899. 
May 
Nov. 
1900. 
May 
Sept. 

10 
10 

16 
20 

16.337 

By  Cash 
"  G.  B.,  Leg., 


124 


ACCOUNTING. 


125 


SURROGATE   COURT, 


County  of_ 


In  the  Matter 

of 

the    Judicial    Settlement    of     the 

account  of  George    Brown,    as  )  Account  of  Proceedings, 
surviving    Executor  of  the    last 
Will   and   Testament  of  Josiah 
Brown,  deceased. 


To  the  Surrogate  of  the  County  of_ 


I,  George  Brown,  of  the  Borough  of  Manhattan,  City  of  New 
York,  do  render  the  following  account  of  my  proceedings,  as  surviving 
Executor  of  the  last  Will  and  Testament  of  Josiah  Brown,  deceased. 

On  the  31st  day  of  March,  A.  D.,  1898,  letters  testamentary  were 
issued  to  Eliza  Brown  and  George  Brown,  on  the  20th  day  of  April, 
A.  D.,  1900,  Eliza  Brown  died. 

On  the  15th  day  of  April,  A.  D.,  1898,  an  Inventory  of  the  per- 
sonal estate  of  the  deceased  was  filed  in  this  office,  which  personal  estate 
therein  set  forth  amounts  by  appraisement,  by  the  appraisers  duly 
appointed,  to  $110,375.20. 

Schedule  A,  part  i,  page  4,  hereto  annexed,  contains  a  statement 
of  the  increase  of  principal. 

Schedule  A,  part  2,  pages  5  and  6,  hereto  annexed,  contains  a 
statement  of  moneys  received,  such  moneys  belonging  to  income. 


137 


Schedule  C,  part  i,  page  7,  hereto  annexed,  contains  a  statement 
of  moneys  paid  for  funeral  expenses,  &c.,  and  other  expenses  attending 
the  care  of  the  estate,  such  moneys  being  chargeable  against  the  principal. 

Schedule  C,  part  2,  page  8,  hereto  annexed,  contains  a  statement 
of  moneys  paid  for  personal  taxes  and  sundry  expenses,  such  moneys 
being  chargeable  against  the  income. 

Schedule  C,  part  3,  page  9,  hereto  annexed,  contains  a  statement 
of  moneys  paid  for  commissions,  such  moneys  being  chargeable  against 
the  income. 

Schedule  D,  page  10,  hereto  annexed,  contains  a  statement  of 
moneys  paid  for  debts  owed  by  the  Testator,  such  moneys  being  charge- 
able against  the  principal. 

Schedule  E,  page  11,  hereto  annexed,  contains  a  statement  of 
moneys  paid  to  the  Widow  and  other  legatees,  such  moneys  being  charge- 
able against  the  income. 

Schedule  F,  page  1 5,  hereto  annexed,  contains  a  statement  of  the 
names  of  all  persons  entitled  as  legatees  or  otherwise,  to  a  share  of  the 
estate. 

Schedule  G,  page  16,  hereto  annexed,  contains  a  statement  of 
moneys  paid  on  account  of  loans  made  on  Bond  and  Mortgage,  such 
moneys  belonging  to  principal. 

Schedule  H,  page  17,  hereto  annexed,  contains  a  statement  of 
all  moneys  received,  belonging  to  principal. 


128 


Schedule  I,  page  i8,  hereto  annexed,  contains  a  statement  of  all 
the  assets  belonging  to  the  estate,  including  both  principal  and  income. 


I  charge  myself  with, 

As  to  Principal. 

Amount  of  inventory,  110,375.20 

Schedule  A,  part  i,  8.038.60 

118,413.80 

I  credit  myself  with, 

Schedule  C,  part  i,  1,892.56 

Schedule  D,  287.85  2,180.41 

Showing  balance  of  principal,  $116,233.39 

As  to  Income. 

I  charge  myself  with, 

Schedule  A,  part  2,  1 1,619.67 

I  credit  myself  with, 

Schedule  C,  part  2,  94^-85 

Schedule  C,  part  3,  S^S^i 

Schedule  E,  8,997.86         10.5^2.32 

Showing  balance  of  income,  $  i ,  1 07. 3 5 

The  said  schedules  which  are  severally  signed  by  me,  are  part  of 
this  account. 


129 


SCHEDULE  A,  PART  1. 

Statement  of  moneys  received  for  interest  accrued  to  March  1 5th, 
1898,  for  increase  of  value  received  from  sale  of  securities  and  for 
collection  of  claims  inventoried  as  of  no  value,  such  moneys  belonging  to 
principal,  and  being  an  increase  thereof,  as  shown  in  the  inventory. 


Interest  accrued  to  March  15th,  1898. 

1898. 

May 

James   Smith,    B.  and   M.,    from   November 

I  St,  1897, 

281 

25 

Julia    Carter,   B.   and   M.,   from  November 

1st,  1897, 

140 

62 

U.  S.  Bonds,  from  February  ist,  1898, 

200 

00 

June 

Mary    Jones,   B.    and  M.,    from    December 

ist,  1897, 

145 

83 

July 

Mutual    Savings     Bank,     from    December 

31st,  1897, 

29 

16 

Friends     Savings    Bank,    from    December 

31st,  1897, 

29 

17 

Aug. 

Eliza  Jenkins,    B.   and   M.,    from  February 

ist,  1898, 

50 

00 

Sept. 

Clara  A.   Ertland,   B.   and  M.,  from  March 

ist,  1898, 

41 

67 

Oct. 

James    Smithers,    note    for    $2,000.00,   due 
February   2nd,    1897,   was    inventoried 
as  of  no  value,  the  full  amount  of  the 
note,   with    interest,    to    October    2nd, 
1898,  was  collected  by  Smith  &  Jones, 
they  retaining   10%  for  collection  fee, 
the  amount  added  to  principal  is, 

Amount  of  note,                2,000.00 

Less  10%,                             200.00       1,800.00 

Interest  to  Mar.  1 5, 1 898,       134-33 

Less  10%,                               13-43          120.90 

1,920 

90 

Nov. 

40  U.  S.  Bonds,  $1,000 

each,  inventoried,                       42,000.00 

Sold  at  i.i8>^,               47,250.00 

Less  brokerage,  }i%,            50.00    47,200.00 

, 

Showing  increase  of, 
Total  increase  of  principal, 

5,200 

00 

$8,038 

60 

George  Brown, 

Bxecu^or. 

181 


SCHEDULE   A,   PART   2. 

Statement  of  moneys  received  for  interest,  from  March  15th,  1898, 
to  and  including  Aug.  ist,  1900,  such  moneys  belonging  to  income. 


1898. 

From  James  Smith  on  B.  &  M., 

May 

5%  interest  on  $15,000.00, 

93 

75 

Nov. 

<(         ((                       <( 

375 

00 

1899. 

May 

(<         it                       It 

375 

00 

Nov. 

((         <(                       it 

375 

00 

1900. 

May 

a             (I                                  it 

375 

00 

1898. 

From  U.  S.  Bonds, 

May 

4%  interest  on  $40,000.00, 

200 

00 

Aug. 

<(         <(                       it 

400 

00 

Nov. 

in  full. 

400 

00 

1898. 

From  Julia  Carter  on  JB.  &  M., 

May 

5%  interest  on  $7,500.00, 

46 

88 

Nov. 

H                   «<                                                 i< 

187 

50 

1899. 

May 

((                   ((                                                 4€ 

187 

50 

Nov. 

it                   H                                                l( 

187 

50 

1900. 

May 

((                   <<                                                t( 

187 

50 

1898. 

From  Mary  Jones  on  B.  &  M., 

June 

5%  interest  on  $10,000.00, 

104 

17 

Dec. 

<<               a                                   a 

250 

00 

1899. 

June 

it              «                                    << 

250 

00 

Dec. 

<(              ((                                    << 

250 

00 

1900. 

June 

ft              t(                                   (* 

250 

00 

1898. 

July 

From  Mutual  Savings  Bank, 

40 

84 

"      Friends 

40 

83 

1898. 

From  Eliza  Jenkins  on  B.  &  M., 

Aug. 

5%  interest  on  $8,000.00, 

150 

00 

i8q9. 

Feb. 

«            a                               « 

200 

00 

Aug. 

((            (<                               << 

200 

00 

1900. 

Feb. 

a               n                                     <t 

200 

00 

Aug. 

'<         "                       "          in  full, 

200 

00 

Carried  forward, 

$5,526 

47 

188 


SCHEDULE    A,   PART   %— Continued. 


1898. 

Sept. 

I 

1899. 

Mar. 

1 

Sept. 

I 

1900. 

Mar. 

I 

1898. 

Dec. 

31 

1899. 

June 

30 

Dec. 

31 

1900. 

July 

31 

1899. 

May 

15 

Nov. 

15 

1900. 

May 

15 

1899. 

Jan. 

25 

July 

25 

1900. 

Jan. 

25 

July 

25 

1899. 

May 

15 

Nov, 

15 

1900. 

May 

15 

1899. 

May 

15 

Nov. 

15 

1900. 

May 

15 

1898. 

Oct. 

2 

Amount  brought  forward, 

From  Clara  A.  Ertland  on  B.  &  M., 
5%  interest  on  $20,000.00, 


From  Madison  Trust  Co., 
Interest  on  deposit, 


From  Eliza  Thomas  on  B.  &  M., 
4/^%  interest  on  $25,000.00, 


From  Peter  Johnson  on  B.  &  M., 
5%  interest  on  $7,000.00, 


<(  <( 


((  (( 


(<  (< 


From  Susan  Abner, 

4/4%  interest  on  $15,000,00, 


From  Martha  Elmer, 

5%  interest  on  $8,ooo.oO; 


<(         (< 


((         (( 


From  James  Smithers, 

Interest  on  $2,000.00  less  collection, 

Total  receipts  for  interest, 

George  Brown, 

Bxecutor. 


5.526 


458 


500 
500 

00 
00 

500 

00 

23 

87 

15 
16 

75 
30 

19 

85 

562 
562 

50 
50 

562 

175 
175 

175 
175 

337 
337 

337 


200 

00 

200 

00 

200 

00 

59 

10 

$11,619 


47 


33 


50 

00 
00 

00 
00 

50 
50 

50 


67 


135 


SCHEDULE   C,  PART   1. 

Statement  of  moneys  paid  for  funeral  expenses,  inheritance  tax 
and  expenses  attending  the  care  of  the  estate,  such  payments  being 
chargeable  against  the  principal. 


foucher.  1898. 

I     May 

10 

Paid  Jones  &  Bros., 

undertakers  bill. 

195 

00 

2 

Paid  J  as.  Johnson, 
flowers  at  funeral. 

25 

00 

3       '' 

15 

Paid  Smith  &  Jones, 
disbursements  in  matter 
of  proving  will,                              25.00 

• 

14 

Appraiser's  fees,                               50.00 

75 

GO 

1 7    Sept. 

Paid  Controller  N.Y.  City, 
amount     of    inheritance 

tax   assessed  as  due  to 

the  State  of  New  York,         1,103.75 

Less  rebate,                                      55-19 

1,048 

56 

22    Oct. 

15 

Paid  Smith  &  Jones  for  legal  services 
as  per  bill. 

250 

00 

15    Dec. 

15 

Paid  Evening  Post,  advertising  notices 

to  creditors, 

24 

50 

38 

Paid  Law  Journal,  advertising  notices 
to  creditors, 

24 

50 

119    July 

31 

Paid  John  Doe,  public  accountant,  for 
writing  up  books  and  preparing  this 
account. 

Total  payments  for  expenses  chargeable 
against  principal, 

250 

00 

$1,892 

56 

George  Brown, 

187 


SCHEDULE   C,  PART   2. 

Statement  of  moneys  paid  for  personal  tax  and  expenses,  which 
moneys  are  chargeable  against  income. 


Voucher. 

1898. 

12 

Aug. 

I 

32 

Nov. 

1899. 

30 

51 

Mar. 

31 

86 

Nov. 
1900. 

30 

103 

Mar. 

25 

Paid  for  stationery,  stamps,  &c., 

"     Receiver  of  Taxes,  N.  Y.  City,  for 
personal  tax  for  1898, 

Paid  for  stamps,  car  fare  and  rent  of 
safe, 

Paid  Receiver  of  Taxes,  N.  Y.  City,  for 
personal  tax  for  1899, 

Paid  for  stationery,  stamps  and  rent  of 
safe, 

Total  payments   for  taxes  &c.  charge- 
able against  income, 

George  Brown, 

Executor. 


00 


35 


85 


189 


SCHEDULE   C,  PART  3. 

Statement  of  moneys  paid  to  the  Executrix  and  Executor  for 
their  commissions  for  receiving  and  paying  out  the  income,  such  moneys 
being  chargeable  against  income. 


Vouctier,  1899. 
52    Apr. 


^  53 


1900. 
104    Apr. 


105 


10 


10 


Paid  Eliza  Brown,  Ex.,  one  commission 
on  $3,705.27,  being  the  income  re- 
ceived to  March  31st,  1899, 

Paid  Geo.  Brown,  Ex.,  one  commission 
on  $3,705.27,  being  the  income  re- 
ceived to  March  31st,  1899, 

Paid  Eliza  Brown,  Ex.,  one  commission 
on  $5,607.04,  being  the  income  for  the 
year  ending  March  31st,  1900, 

Paid  Geo.  Brown,  Ex.,  one  commission 
on  $5,607.05,  being  the  income  for  the 
year  ending  March  31st,  1900, 

Total  payments  for  commissions  on 
income  to  March  31st,  1900,  and 
chargeable  against  income. 

George  Brown, 

Executor. 


$565 


63 


17 


61 


141 


lO 


SCHEDULE   D. 

Statement  of  moneys  paid  for  debts  owed  by  the  Testator,  such 
moneys  being  chargeable  against  principal. 


Ifoycher.  1898. 

8    May 

25 

Paid  Jones  &  Carroll, 

bill  for  coal, 

28 

50 

9 

Paid  Dairy  Farm, 

bill  for  milk. 

10 

80 

10 

Paid  Brown  &  Co., 

bill  for  groceries. 

Z1 

75 

1 1    June 

15 

Paid  James  Calkins,  M.  D., 

bill  for  medical  services, 

85 

00 

'27    Nov. 

10 

Paid  Eliza  Brown  for 
bills  paid  by  her. 
Gas  bill,                                            7.80 
Girl's  wages,                                 16.00 
Trained  nurse,                              40.00 
Butchers  bill,                                35-oo 
Vegetable  bill,                               i7-50 

Laundry  bill,                                   9.50 
Total   payments   on    account  of  debts 

125 

80 

owed  by  the  Testator, 

$287 

85 

George  Brown, 

Executor. 

143 


II 


SCHEDULE   E. 

Statement  of  moneys  paid  to  the  Widow  and  to  the  other  lega- 
tees, such  moneys  being  chargeable  against  income. 


Voucher. 

1898. 

4 

May 

15 

Paid  Eliza  Brown,  Widow, 

120.00 

13 

Aug. 

15 

<<               a                 ((                      <( 

120.00 

18 

Sept. 

15 

<<               ((                  <<                      <( 

120.00 

23 

Oct. 

15 

<<               <(                 i(                      {( 

120.00 

28 

Nov. 

15 

(<               it                 ((                      (< 

100.00 

32 

Dec. 

1899. 

15 

((               ((                 t(                      <( 

100.00 

39 

Jan. 

15 

<<               (<                 <<                      <( 

100.00 

43 

Feb. 

15 

((               <(                 ((                      << 

100.00 

47 

Mar. 

15 

<(               <(                 ((                      (( 

100.00 

54 

Apr. 

10 

((               ((                 <(                      (< 

18.00 

58 

May 

15 

<<               ((                 (<                     |( 

1 20.00 

>  62 

June 

15 

<<               (<                 ((                     i( 

120.00 

66 

July 

15 

(<               ((                 ((                      (< 

1 20.00 

70 

Aug. 

15 

i  i               It                 t f                      ft 

1 20.00 

74 

Sept. 

15 

(t               ft                 ({                      (t 

1 20.00 

78 

Oct. 

15 

tf               It                 ft                      tt 

1 20.00 

82 

Nov. 

15 

(<               tt                 ft                      ft 

1 20.00 

87 

Dec. 

1900. 

15 

tt               It                 it                     i< 

120.00 

91 

Jan. 

15 

tt               (t                 ft                      ft 

120.00 

95 

Feb. 

15 

t (               ( <                 It                      (( 

1 20.00 

99 

Mar. 

15 

II               tf                 tt                      ft 

120.00 

106 

Apr. 
1898. 

10 

ft               II                 If                      «< 

281.28 

2,599 

28 

5 

May 

15 

Paid  Geo.  Brown.  Legatee, 

80.00 

14 

Aug. 

15 

It         ft           ft             ft 

80.00 

1.9 

Sept. 

15 

ft         If           ft             (( 

80.00 

24 

Oct. 

15 

ft         t(          ft             f< 
Carried  forward, 

80.00 

320.00 

$2,599 

28 

146 


SCHEDULE    E. — Continued. 


12 


Amount  brought  forward, 

2,599 

28 

Geo.  Brown,  brought  forward. 

320.00 

Ifoucher. 

1898. 

29 

Nov. 

15 

Paid  Geo.  Brown.  Legatee, 

60.00 

Zl 

Dec. 

1899. 

15 

<(         ((           <<             <( 

60.00 

40 

Jan. 

15 

<(         (<           ((             (( 

60.00 

44 

Feb. 

15 

(<         <(          ((             <( 

60.00 

48 

Mar. 

15 

((         (<          <(             (( 

60.00 

55 

Apr. 

10 

(<         <(          <(             <( 

45-33 

59 

May 

15 

((         ((          (<             << 

80.00 

63 

June 

15 

((         (<           <<             (( 

80.00 

67 

July 

15 

((         (<          ((             (( 

80.00 

71 

Aug. 

15 

<(         ((          <(             « 

80.00 

75 

Sept. 

15 

((         ((          <<             << 

80.00 

79 

Oct. 

15 

((         (<           ((             <( 

80.00 

83 

Nov. 

15 

<(         ((           (<             (( 

80.00 

88 

Dec. 

1900. 

15 

((         <(           ((             (( 

80.00 

92 

Jan. 

15 

U                 <(                   i(                         <( 

80.00 

96 

Feb. 

15 

<(            <(              <<                  << 

80.00 

100 

Mar. 

15 

((              <(                <<                    << 

80.00 

107 

Apr. 

10 

{<            <<              <<                  << 

187.52 

no 

May 

15 

((            <(              <<                  << 

100.00 

113 

June 

15 

((            <(              <<                  << 

1 00.00 

116 

July 

15 

((            ((               l<                  << 

200.00 

2,132 

85 

1898. 

6 

May 

15 

Paid  Juliet  Brown,  Legatee, 

80.00 

15 

Aug. 

15 

<(         <<           «<             «< 

80.00 

• 

20 

Sept. 

15 

<(         <(          ((             << 

80.00 

25 

Oct. 

15 

<<         ((          (<             << 

80.00 

30 

Nov. 

15 

((         ((          (<             << 

60.00 

34 

Dec. 

1899. 

15 

((         ((          <<             " 

60.00 

41 

Jan. 

15 

((              a                 <<                     " 

60.00 

45 

Feb. 

15 

<<              «i                 <<                     <* 

60.00 

49 

Mar. 

15 

4<                         U                            <<                                   " 

Carried  forward. 

60.00 

$4,732 

■  ^ 

620.00 

13 

147 

SCHEDULE    1^.— Continued. 


13 


Koiicher.  1899. 

56  Apr. 

60  May 

64  June 

68  July 

72  Aug. 

76  Sept. 

80  Oct. 

84  Nov. 

89  Dec. 
1900. 

93  Jan. 

97  Feb. 

loi  Mar. 

108  Apr. 

1 1 1  May 

114  June 

117  July 
1898. 

7  May 

16  Aug. 

21  Sept. 

26  Oct. 

31  Nov. 

35  Dec. 
1899. 

42  Jan. 

46  Feb. 

50  Mar. 

57  Apr. 

61  May 

65  June 

69  July 

73  Aug. 


[O 


Amount  brought  forward, 

Juliet  Brown,  brought  forward,    620.00 


Paid  Juliet  Brown,  Legatee, 


Paid  Mary  Brown,  Legatee, 


45-34 
80.00 
80.00 
80.00 
80.00 
80.00 
80.00 
80.00 
80.00 

80.00 
80.00 
80.00 
187.52 
100.00 
100.00 
200.00 


4.732 


13 


Carried  forward, 


80.00 
80.00 
80.00 
80.00 
60.00 
60.00 

60.00 
60.00 
60.00 

45-34 
80.00 
80.00 
80.00 
80.00 

985-34 


2,132 


86 


$6,864 


99 


149 


14 


SCHEDULE   E. — Continued. 


Amount  brought  forward, 

Mary  Brown,  brought  forward,    985.34 


Voocher.  1899. 
"j^    Sept. 


81 
85 


Oct 
Nov. 
90  Dec. 
1900. 
94  Jan. 
98  Feb. 
102  Mar. 
109  Apr. 
1 1 2  May 
115  June 
118  July 


15 

15 
15 
15 

15 
15 
15 
10 

15 
15 
15 


Paid  Mary  Brown,  Legatee, 


80.00 
80.00 
80.00 
80.00 

80.00 
80.00 
80.00 

187-53 
100.00 
100.00 
200.00 


Total  payments  to  the  Widow  and  other 
legatees,  and  chargeable  against  in- 


come, 


George  Brown, 

Executor. 


$8,997 


87 


86 


161 


15 


SCHEDULE   F. 

Statement  of  the  names  of  all  persons  entitled  as  legatees  or 
otherwise,  to  a  share  in  the  estate  of  Josiah  Brown,  deceased,  with  their 
degree  of  relationship  and  place  of  residence. 

George  Brown,  a  son, 

residing  in  the  Borough  of  Manhattan,  N.  Y.  City. 

Juliet  Brown,  a  daughter, 

residing  in  the  Borough  of  Manhattan,  N.  Y.  City. 

Mary  Brown,  a  daughter, 

residing  in  the  Borough  of  Manhattan,  N.  Y.  City. 

Juliet  Brown,   as   Executrix  of  the   last    will  and  testament  of  Eliza 
Brown,  the  widow,  deceased. 

All  of  the  above  are  of  full  age. 

George  Brown, 

Executor, 


153 


i6 


SCHEDULE   G. 

Statement  of  moneys  paid  on  account  of  loans  made  on  Bond 
and  Mortgage,  such  moneys  belonging  to  principal. 


1898. 
July 


Nov. 


Nov. 


Nov. 


25 


15 


15 


15 


Loan  to  Peter  Johnson, 

Secured  by  Bond  and  Mortgage  on 
premises,  18  South  89th  St.,  Borough 
of  Manhattan,  N.  Y.  City,  payable  in 
5  years,  with  interest  at  5%  per  an- 
num, payable  semi-annually,  Jan.  25th 
and  July  25th. 

Loan  to  Eliza  Thomas, 

Secured  by  Bond  and  Mortgage  on 
premises,  18  North  89th  St.,  Borough 
of  Manhattan,  N.  Y.  City,  payable  in 
5  years,  with  interest  at  4}4%  per 
annum,  payable  semi-annually,  May 
15th  and  Nov.  15th. 

Loan  to  Susan  Abner, 

Secured  by  Bond  and  Mortgage  on 
premises,  23  St.  George  Ave.,  Borough 
of  Manhattan,  N.  Y.  City,  payable  in 
5  years,  with  interest  at  4>^%  per 
annum,  payable  semi-annually,  May 
15th  and  Nov.  15th. 

Loan  to  Martha  Elmer, 

Secured  by  Bond  and  Mortgage  on 
premises,  18  Bronson  St.,  Borough  of 
Manhattan,  N.  Y.  City,  payable  in 
5  years,  with  interest  at  5%  per  an- 
num, payable  semi-annually.  May  1 5th 
and  Nov.  15th. 


George  Brown, 

Executor. 


7,000 


25,000 


1 5,000 


8,000 


$55,000 


00 


00 


00 


00 


00 


166 


17 


SCHEDULE   H. 

Statement  of  moneys  received  from  sale  of  securities,  from  deposits 
in  banks,  from  accrued  interest  to  March  15th,  1898,  and  from  payment 
of  Bond  and  Mortgage,  such  moneys  belonging  to  principal. 


1898. 

April 

I 

Deposit  in  Sand  Hill  Bank, 

875 

20 

July 

20 

"          Mutual  Savings  Bank, 

3.500 

00 

Friends      ** 

3.500 

00 

Oct. 

15 

Received  from  Smith  &  Jones  the  amount 
of  note  of  James  Smithers,  with  interest  to 

Oct.  2d,  1898,  less  10%  for  collection, 

1,920 

90 

Nov. 

2 

Received  from  Cook  &  Brown, 
proceeds  of  sale  of  40  U.  S. 
4%  bonds  $1,000,   each  at 
i.i8i^,                                          $47,250.00 

Less  }^%  brokerage,                                50.00 

47,200 

00 

From  accrued  interest  to  March  15th,  1898. 

James  Smith,  from  Nov.  ist,  1897, 

281 

25 

Julia  Carter, 

140 

62 

U.  S.  Bonds,      "      Feb.  ist,  1898, 

200 

00 

Mary  Jones,       "      Dec.  ist,  1897, 

145 

83 

Mutual  Savings  Bank,  from  Dec. 3 ist,  1897, 

29 

16 

Friends       '* 

29 

17 

Eliza  Jenkins,  from  Feb.  ist,  1898, 

50 

00 

Clara  A.  Erdand,  from  March  ist,  1898, 

41 

67 

1900. 

Aug. 

I 

Received  from    Eliza   Jenkins,    principal  of 

Bond  and  Mortgage, 

8^000 

00 

Total  moneys  received,  such  moneys  belong- 
ing to  principal, 

$65,913 

80 

George  Brown, 

Bxecuior. 

157 


i8 


SCHEDULE   I. 

Statement  of  the  assets  belonging  to  the  estate  comprising  prin- 
cipal and  income  as  of  August  i  st,  1 900. 


Bonds  and  Mortgages. 

Eliza  Thomas,  due  Nov.  15th,  1903, 

interest  4)4%,  payable  May  15th  and'  Nov.  15th. 

25,000 

00 

Clara  A.  Ertland,  due  Sept.  ist,  1902, 

interest  5%,  payable  March  ist  and  Sept.  ist. 

20,000 

00 

James  Smith,  due  May  ist,  1902, 

interest  5%,  payable  May  ist  and  Nov.  ist. 

1 5,000 

00 

Susan  Abner,  due  Nov.  15th,  1903, 

interest  4^%,  payable  May  15th  and  Nov.  15th. 

15,000 

00 

Mary  Jones,  due  Dec.  ist,  1901, 

interest  5%,  payable  June  ist  and  Dec.  ist. 

10,000 

00 

Martha  Elmer,  due  Nov.  15th,  1903, 

interest  5%,  payable  May  15th  and  Nov.  15th. 

8,000 

00 

Julia  Carter,  due  May  ist,  1900, 

interest  5%,  payable  May  ist  and  Nov.  ist. 

7.500 

00 

Peter  Johnson,  due  July  25th,  1903, 

interest  5%,  payable  Jan.  25th  and  July  25th. 

7,000 

00 

Cash. 

Madison  Trust  Co., 

balance  on  deposit  Aug.  ist,  1900, 

9,840 

74 

Making  a  total  of 

of  which  belongs, 

to  principal,                                                    116,233.39 

to  income,                                                         i>io7-35 

117,340.74 

$ii7>340 

74 

George  Brown, 

£xecu^or. 

169 


SUPPLEMENTAL  ACCOUNTING. 


161 


Supplemental  account  of  George  Brown,  surviving  Executor  of 
the  estate  of  Josiah  Brown,  deceased,  showing  receipts  for  interest  paid 
and  amount  of  accrued  interest  to  Sept.  15th,  1900,  on  the  several  bonds 
and  mortgages  embraced  in  the  principal. 


Sept. 
Sept. 


15 


Receipts. 

From  Clara  A.  Ertland, 

interest  on  B.  &  M.  to  Sept.  ist, 

From  Madison  Trust  Co., 

interest  on  deposits  to  date, 

Accrued  Interest. 

James  Smith,  May  ist  to  Sept.  15th,   281.25 

Julia  Carter,  May  ist  to  Sept.  15th,     140.62 

Eliza  Thomas,  May  15th  to  Sept. 

15th,  375-00 

Susan  Abner,  May  15th  to  Sept. 

15th,  225.00 

Martha  Elmer,  May  1 5th  to  Sept. 

15th,  ^33-33 

Mary  Jones,  June  ist  to  Sept.  15th,     145.83 
Peter  Johnson,  July  25th  to  Sept. 

15th,  49-57 

Clara  A.  Ertland,  Sept.  ist  to  Sept. 

15th,       .  •  41-67 

Total  accrued  interest  to  Sept.  15th, 

Making  increase  of  income  from  Aug.  ist  to 
Sept.  15  th,  1900, 

George  Brown, 

Executor. 


500 


24 


00 


60 


1.392 


$1,916 


27 


87 


168 


SURROGATE'S   DECREE 

OF 

DISTRIBUTION. 


186 


At  a  Surrogate  Court,  held  at 


on  the  15th  day  of  September,  1900. 
Present, 

Hon. 


Surrogate. 


In  the  Matter 
of 

the  Judicial  Settlement  of  pro- 
ceedings of  George  Brown,  sur- 
viving Executor  of  the  estate 
of  Josiah  Brown,  deceased. 


George  Brown,  surviving  Executor  of  the  estate  of  Josiah  Brown, 
deceased,  having  heretofore  made  application  to  the  Surrogate's  Court  of 

the  County  of .for  a  Judicial  settlement  of 

his  account  as  such  Executor,  and  a  citation  having  been  thereupon 
issued  pursuant  to  statute  directed  to  all  persons  interested  in  the  estate 
of  said  deceased,  citing,  and  requiring  them,  and  each  of  them  person- 
ally, to  be  and  appear  at  the  Surrogate's  office  in . 


167 


on  the  15th  day  of  August,  1900,  at  11  o'clock  in  the  forenoon  of  that 
day,  then  and  there  to  attend  such  judicial  settlement ;  and  the  said 
citation  having  been  returned  with  proof  of  due  service  thereof  on  Juliet 
Brown,  and  Mary  Brown,  and  Messrs.  Smith  &  Jones,  having  appeared 
as  attorneys  for  said  Juliet  Brown  and  the  said  Mary  Brown,  and  the 
said  Executor  having  appeared  in  person  and  by  his  attorneys  Messrs. 
Smith  &  Jones,  and  the  said  proceedings  having  been  adjourned  to  this 
date,  and  the  said  Executor  having  rendered  his  account  under  oath  in 
this  Court,  and  the  said  account  having  been  filed  together  with  the 
vouchers  in  support  thereof,  and  no  objections  having  been  made  to  said 
account ;  and  this  Court  after  having  examined  the  said  account  and 
vouchers,  now  here  finds  the  state  and  condition  of  said  account  to  be  as 
stated  and  set  forth  in  the  said  account  as  filed,  and  in  the  following 
summary  statement  thereof  made  by  this  Court  as  finally  settled  and  ad- 
justed by  it  to  be  recorded  with  and  taken  to  be  a  part  of  the  Decree  in 
this  motion,  to  wit: — 


168 


A   SUMMARY    STATEMENT 

of  the  account  of  George  Brown,  surviving  Executor  upon  the  estate  of 
Josiah  Brown,  deceased,  made  by  this  Court  as  finally  settled  and 
allowed. 

The  said  Executor  is  chargeable  as  follows : 
With  amount  of  Inventory,  110,375.20 

"     increase  of  principal  as  shown  in  Schedule  A,  part  i,  8,038.60 

"    moneys  belonging  to  income  as  shown   in    Sched- 
ule A,  part  2.  11,619.67 


He  is  to  be  credited  as  follows: 

With  moneys  paid  for  funeral  expenses,  &c., 
charged  against  principal  as  shown  in  Sched- 
ule C,  part  I,  1,892.56 

With  moneys  paid  for  taxes  and  expenses  charged 
against  income  as  shown  in  Schedule  C, 
part  2, 

With  moneys  paid  for  commissions,  charged 
against  income,  as  shown  in  Schedule  C, 
part  3, 

With  moneys  paid  for  debts  owed  by  the  Testa- 
tor, charged  against  principal,  as  shown  in 
Schedule  D, 

With  moneys  paid  to  the  Widow  and  other  Lega- 
tees, charged  against  income,  as  shown   in 

Schedule  E,  _  _   

Leaving  a  balance, 

of  which  principal,  116,233.39 

"       income,  i>io7-35 


948.85 


565.61 


287.S5 


130.033-47 


8,997.86       $12,692.73 
j5 1 17.340.74 


117.34074 


169 


Which    the   said    Executor  at   the   date  of  said 
account  held  invested  as  follows  : 

Bonds  and  Mortgages  at  their  face  value,  107,500.00 

Cash,  9,840.74 

$117,340.74 

And  the'  said  Executor  having  further  made  and  duly  filed  a  sup- 
plemental account  containing  a  statement  of  his  acts  and  doings  and  the 
receipts  (including  interest  accrued  to  September  15th,  but  not  collected) 
since  the  first  day  of  August,  1900,  the  Surrogate  now  here  finds  and 
adjudges  the  facts  to  be  that  the  said  Executor  has  at  this  date  on  hand 
distributable  to  the  parties  entitled  thereto,  the  aforesaid  principal  sum 
of  $116,233.39 

as  follows : 

Cash,  7»34i-i2 

Bonds  and  Mortgages,  with  interest  accrued  to 

September  15th,  1900,  $108,892.27    $116,233.39 

That  the  aforesaid  balance  of  income,  1,107,35 

is  increased,  as  shown  in  the  said  supple- 
mental account  in  the  sum  of  1,916.87 

Making  a  total  sum  01  3,024.22 

of  income,  which  the  said  Executor  has  at  this 

date  on  hand  in   cash  distributable  to  the 

parties  entitled  thereto. 


170 


And  it  appearing  that  the  said  Executor  has  fully  accounted  for 
all  the  moneys  and  property  of  the  estate  of  the  said  deceased  which 
have  come  into  his  hands  as  such  Executor,  and  this  account  having 
been  adjusted  by  this  Court,  and  a  summary  statement  of  the  same 
having  been  made  as  above  and  herewith  recorded : 

It  is  hereby  ordered^  adjudged  and  decreed  that  said  account  be 
and  the  same  is  hereby  finally  and  judicially  settled  and  allowed  as  filed 
and  adjusted. 

And  it  is  further  ordered,  adjudged  and  decreed  that  out  of  the 
principal  as  found  as  above  remaining  in  the  hands  of  the  said  Executor, 
viz:  116,233.39 

He  pay  the  sum  of  350.00 

To  his  attorneys  Messrs.  Smith  & 
Jones,  for  their  costs  and  disbursements 
on  this  accounting. 

That  he  retain   for  himself  as    Executor  the 

sum  of  1,374-13 

[Being  one  commission  on  the  amount  of  the 
principal.] 

That  he  pay  to  Juliet  Brown,  Executrix  of  the 
Will  and  Testament  of  Eliza  Brown,  de- 
ceased, the  sum  of  i»374-i3 

[Being  one  commission  on  the  amount  of  the 

principal]  3>098-26 

Leaving  as  balance  of  principal,  $  1 1 3,  *  3 5- '  3 


m 


And  it  is  further  ordered^  adjudged  and  decreed 
that  the  said  Executor  shall  from  the  said 
balance  of  income  as  shown,  viz : 

Retain  for  himself  as  Executor  the  sum  of 

Being  one  commission  on  the  income  since 
March  31st,  1900,  viz:  $4,224.22 

Leaving  as  balance  of  income 

And  it  is  further  ordered^  adjudged  and  decreed^ 
that  the  said  Executor  shall  distribute  the 
balance  of  the  principal  of  the  said  estate 
then  remaining  in  his  hands,  viz: 

Consisting  of  the  following  Bonds  and  Mort- 
gages and  Cash,  comprising  the  principal 
as   follows,  viz : 

Eliza  Thomas,  Bond  and  Mortgage 

Accrued  interest  to  September  1 5th 

Clara  A.  Ertland,  Bond  and  Mortgage 
Accrued  interest  to  September  1 5th 

James  Smith,  Bond  and  Mortgage 

Accrued  interest  to  September  1 5th 

Susan  Abner,  Bond  and  Mortgage 

Accrued  interest  to  September  1 5th 

Mary  Jones,  Bond  and  Mortgage 

Accrued  interest  to  September  1 5th 
Carried  forward, 


3,024.22 
130.19 


$2,894.03 


113.13513 


25,000.00 

375-00 

25,375-00 

20,000,00 

41.67 

20,041.67 

1 5,000.00 

281.25 

15,281.25 

1 5,000.00 

225.00 

15,225.00 

10,000.00 

145-83 

10,145.83 

86,068.75 


173 


Brought  forward, 
Martha  Elmer,  Bond  and  Mortgage 

Accrued  interest  to  September  15th 
Julia  Carter,  Bond  and  Mortgage 

Accrued  interest  to-September  15th 
Peter  Johnson,  Bond  and  Mortgage 

Accrued  interest  to  September  15th 
Cash  on  deposit, 

Among  the  parties  entitled  thereto,  as  follows: 

One  equal  third  part  thereof  to  George  Brown, 
by  delivering  to  him  the  following  named 
securities,  together  with  proper  assign- 
ments thereof. 

Clara  A.  Ertland,  Bond  and  Mortgage 
Accrued  interest  to  September  15th 

Susan  Abner,  Bond  and  Mortgage 

Accrued  interest  to  September  1 5th, 
Cash  to  balance. 

One  other  equal  third  part  thereof  to  Juliet 
Brown,  by  delivering  to  her  the  following 
named  securities,  together  with  proper 
assignments  thereof. 

Eliza  Thomas,  Bond  and  Mortgage 

Accrued  interest  to  September  1 5th 

Mary  Jones,  Bond  and  Mortgage 

Accrued  interest  to  September  1 5th 
Cash  to  balance, 
Carried  forward. 


86,068.75 

8,000.00 

133-33 

8,133-33 

7,5oo.oo« 

140.62 

7,640.62 

7,000.00 

49-57 

7,049-57 

4,242.86 

113,13513 

20,000.00 

41.67 

15,000.00 
225.00 

2,445.04 


25,000.00 

37500 

10,000.00 

145-83 

2,190.88 


Z7*7^^'1^ 


37,711-71 
75A23'42 


178 


Brought  forward, 
One  other  equal  third  part  thereof  to    Mary 

Brown,  by  delivering  to  her  the   following 

named    securities,    together   with   proper 

assignments  thereof. 
James  Smith,  Bond  and  Mortgage 

Accrued  interest  to  September  1 5th 
Julia  Carter,  Bond  and  Mortgage 

Accrued  interest  to  September  1 5th 
Peter  Johnson,  Bond  and  Mortgage 

Accrued  interest  to  September  1 5th 
Martha  Elmer,  Bond  and  Mortgage 

Accrued  interest  to  September  1 5th 

There  being  an  excess  in  the  above  allotment, 
there  has  been  charged  to  share  of  the  in- 
come the  sum  of 

And  it  is  further  ordered^  adjudged  and  decreed^ 
that  the  said  executor  do  distribute  the 
aforesaid  balance  of  income  as  increased 
by  supplemental  account,  viz : 

Among  the  parties  thereto  entitled  as  follows: 

To  Juliet  Brown,  Executrix  of  the  Will  and 
Testament  of  Eliza  Brown 

Being  her  share  of  income  to  April  20th,  1 900. 

To  George  Brown 

To  Juliet  Brown 

To  Mary  Brown,  cash,  350-35 

Excess  of  allotment  of  principal  393-o6 


75.423.42 


15,000.00 

281.25 

7,500.00 

140.62 

7,000.00 

49.57 
8,000.00 

133.33 
38,104.77 


393-06         37.711.71 
$113,135.13 


2,894.03 

663.80 

743-41 
743-41 

743.41  2,894.03 


174 


And  it  is  further  adjudged,  that  upon  the  payment  by  the  said 
George  Brown,  of  the  said  sums  herein  above  adjudged  by  him  to  be 
paid,  he  be  thereafter  released  and  discharged  as  surviving  Executor  of 
the  last  Will  and  Testament  of  Josiah  Brown,  deceased,  (and  upon  filing 
with  the  Surrogate,  the  receipts  of  the  respective  parties  for  the  amounts 
adjudged  to  be  paid  to  them  or  other  vouchers  proving  such  payments), 
that  an  order  to  such  effect  may  be  entered  without  notice. 


176 


COMPOUND    INTEREST  TABLES 


AND 


CARLISLE   LIFE   TABLES. 


177 


COMPOUND   INTEREST  TABLES, 

The  compound  interest  tables  are  introduced  to  furnish  information 
as  to  the  working  of  the  same,  not  only  as  relates  to  the  duties  of  exec- 
utors and  trustees,  but  for  other  matters  not  directly  concerned  in  the 
care  of  estates.  It  frequently  happens  that  a  will  may  direct  the  payment 
of  a  certain  sum  of  money  to  a  person  for  a  certain  number  of  years  or 
during  the  life  of  the  party ;  it  is  desirable  at  times  for  the  executor  to 
have  some  knowledge  of  the  amount  of  the  money  required  to  be  taken 
from  the  principal  of  an  estate,  to  secure  such  annual  payment,  it  was 
considered  that  the  best  way  to  afford  such  information,  was  to  give  the 
Carlisle  life  table  and  compound  interest  tables,  showing  the  various 
results  of  the  increase  of  money  when  compounded  at  different  rates  of 
interest.  The  interest  tables  also  afford  information  as  to  sinking  funds, 
the  purchase  of  annuities  and  the  accumulation  of  money,  at  compound 
and  simple  interest.     The  tables  herein  given  are : 


CARLISLE   LIFE   TABLES.  ; 

This  table  shows  the  expectancy  of  life  to  a  person  from  birth  to 
the  age  of  103  years.  For  instance,  a  person  who  is  20  years  old  has  on 
the  average  an  expectancy  of  41  years  and  6  months  of  life,  and  by 
reference  to  the  table  the  expectancy  of  life  of  any  other  age  can  be  found. 
The  Carlisle  table  is  acknowledged  to  be  as  nearly  correct  on  the  average 
from  the  age  of  10  to  about  70  years,  as  any  of  the  tables  that  have  been 
compiled  since,  the  difference  being  only  a  few  months  of  more  expect- 
ancy in  the  Carlisle  table. 


179 


Table  I. — This  table  shows  the  sum  to  which  one  dollar  will 
increase  at  compound  interest  for  any  number  of  years  not  exceeding 
fifty,  at  3,  3^,  4,  4^,  5,  5^  and  6  per  cent,  per  annum;  appended  to 
this  table,  are  shown  the  relative  effects  of  simple  and  compound  interest, 
as  to  the  doubling  of  money  at  various  rates  of  interest. 

Table  II. — ^This  table  shows  the  present  value  of  one  dollar  per 
annum,  to  be  paid  at  the  expiration  of  each  year,  for  any  number  of 
years  not  exceeding  fifty,  discounting  at  the  rate  of  3,  3^,  4,  4^,  5,  5^ 
and  6  per  cent  interest  per  annum,  compounded.  This  table  shows  the 
amount  to  be  paid  in  advance,  to  secure  the  annual  payment  of  a  certain 
sum,  for  a  certain  number  of  years^  for  instance,  how  much  money  must 
be  paid  in  advance  to  secure,  say,  $100.00  per  annum,  for  10  years, 
the  payment  of  such  annual  sum  can  be  made  to  one  or  more  persons 
during  the  time  to  be  designated. 

Table  III. — This  table  shows  the  annuity  payable  at  the  expira- 
tion of  any  number  of  years,  that  one  dollar  will  purchase,  interest  com- 
pounded annually  at  3,  3^,  4,  4^,  5,  5^  and  6  per  cent.  This  table  is 
similar  to  table  II,  the  difference  being  that  table  II,  shows  the  amount 
to  be  paid  in  advance  to  secure  the  payment  of  a  designated  amount  at 
the  expiration  of  the  year,  for  a  designated  number  of  years ;  while 
table  III,  shows  the  amount  of  the  annuity  that  a  designated  amount  of 
money  will  secure  for  a  designated  number  of  years. 

Table  IV. — This  table  shows  the  sum  to  which  one  dollar  per 
annum,  paid  at  the  beginning  of  each  year,  will  increase  at  compound 
interest  for  any  number  of  years  not  exceeding  fifty,  at  3,  3^,  4,  4^,  5, 
S}4  and  6  per  cent.,  per  annum.  TJiis  table  is  probably  the  most  useful 
of  any,  it  being  capable  of  defining  the  amount  of  a  sinking  fund  to  be 


180 


established  for  certain  purposes ;  the  examples  given  relate  to  a  sinking 
fund  for  retiring  bond  issue  by  a  corporation,  a  sinking  fund  to  pay  off  a 
mortgage,  the  amount  required  to  be  taken  from  the  rents  of  a  leasehold 
property,  to  cancel  the  amount  of  the  money  paid  in  advance  for  such 
leasehold,  and  the  accumulations  of  deposits  made  in  Savings  Banks  for 
a  term  of  years. 

Table  V. — This  table  shows  the  present  value  of  one  dollar  due 
at  the  end  of  any  number  of  years  not  exceeding  fifty,  discounted  at  the 
rates  of  3,  3j^,  4,  4^,  5,  5  5^  and  6  per  cent.,  interest  compounded.  In 
other  words,  this  table  shows  the  amount  to  be  paid  in  advance,  to  secure 
the  payment  at  the  end  of  a  certain  number  of  years,  of  a  certain  amount 
of  money. 


181 


TABLE 

SHOWING  THE   "EXPECTATION"   OF  LIFE  AT  ALL   AGES, 

according  to  Carlisle,  Male  and  Female. 


Age, 

Years. 

Months. 

Age. 

Years. 

Months. 

0 

38 

9 

52 

19 

8 

1 

44 

8 

53 

19 

0 

2 

47 

7 

54 

18 

3 

3 

49 

10 

55 

17 

7 

4 

50 

9 

56 

16 

11 

5 

51 

3 

57 

16 

3 

6 

51 

2 

58 

15 

7 

7 

50 

10 

59 

14 

11 

8 

50 

3 

60 

14 

11 

9 

49 

7 

61 

13 

10 

10 

48 

10 

62 

13 

4 

11 

48 

0 

63 

12 

10 

12 

47 

3 

64 

12 

4 

13 

46 

6 

65 

11 

9 

14 

45 

9 

66 

11 

3 

15 

45 

0 

67 

10 

9 

16 

44 

3 

68 

10 

3 

17 

43 

7 

69 

9 

9 

18 

42 

10 

70 

9 

2 

19 

42 

2 

71 

8 

8 

20 

41 

6 

72 

8 

2 

21 

40 

9 

73 

7 

9 

22 

40 

0 

74 

7 

4 

23 

39 

4 

75 

7 

0 

24 

38 

7 

76 

6 

8 

25 

37 

10 

77 

6 

5 

26 

37 

2 

78 

6 

1 

27 

36 

5 

79 

5 

10 

28 

35 

8 

80 

5 

6 

29 

35 

0 

81 

5 

3 

30 

34 

4 

82 

4 

11 

31 

33 

8 

83 

4 

8 

32 

33 

0 

84 

4 

5 

33 

32 

4 

85 

4 

1 

34 

31 

8 

86 

3 

11 

35 

31 

0 

87 

3 

9 

36 

30 

4 

88 

3 

7 

37 

29 

8 

89 

3 

6 

38 

29 

0 

90 

3 

4 

39 

28 

3 

91 

3 

3 

40 

27 

7 

92 

3 

5 

41 

27 

0 

93 

3 

6 

42 

26 

4 

94 

3 

7 

43 

25 

9 

95 

3 

7 

44 

25 

1 

96 

3 

6 

45 

24 

-6 

97 

3 

3 

46 

23 

10 

98 

3 

1 

47 

23 

2 

99 

2 

9 

48 

22 

6 

100 

2 

3 

49 

21 

10 

101 

1 

9 

50 

21 

1 

102 

1 

4 

51 

20 

5 

103 

0 

10 

183 


TABLE    I. 

The  sum  to  which  one  dollar  will  increase  at  compound  interest  for 
any  number  of  years  not  exceeding  fifty,  at  3,  3^,  4,  4^,  5,  ^y^  and  6 
per   cent.,    per    annum. 


12 

3 

3)4 

4 

4>^ 

5 

5/2 

6 

03 

per  ceht. 

per  cent. 

per  cent. 

per  cent. 

per  cent. 

per  cent. 

per  cent. 

l_ 

1 

1.030 

1.035 

1.040 

1.045 

1.050 

1.055 

1.060 

1 

2 

1.061 

1.071 

1.082 

1.092 

1.103 

1.113 

1.124 

2 

3 

1.093 

1.109 

1.125 

1.141 

1.158 

1.174 

1  191 

3 

4 

1.126 

1.148  ^ 

1.170 

1.193 

1.216 

1.239 

1.262 

4 

5 

1.159 

1.188 

1.217 

1.246 

1.276 

1.307 

1.338 

5 

6 

1.194 

1.229 

1.265 

1.303 

1.340 

1.379 

1.419 

6 

7 

1.230 

1.272 

1.316 

1.361 

1.407 

1.455 

1.504 

7 

8 

1.267 

1.317 

1.369 

1.422 

1.477 

1.535 

1.594 

8 

9 

1.305 

1.363 

1.423 

1.486 

1.551 

1.619 

1.689 

9 

10 

1.344 

1.411 

1.480 

1.553 

1. 629 

1.708 

1.791 

10 

11 

1.384 

1.460 

1.540 

1.623 

1.710 

1.802 

1.898 

11 

12 

1.426 

1.511 

1.601 

1.696 

1.796 

1.901 

2.012 

12 

13 

1.469 

1.564 

1.665 

1.772 

1.886 

2.006 

2.133 

13 

14 

1.513 

1.619 

1.732 

1.852 

1.980 

2.116 

2.261 

14 

15 

1.558 

1.675 

1.801 

1.935 

2.079 

2.232 

2.397 

15 

16 

1.605 

1.734 

1.873 

2.022 

2.183 

2.355 

2.540 

16 

17 

1.653 

1.795 

1.948 

2.113 

2.292 

2.485 

2.693 

17 

18 

1.702 

1.857 

2.026 

2.208 

2.407 

2.621 

2.854    . 

18 

19 

1.754 

1.923 

2.107 

2.308 

2.527 

2.766 

.  3.026 

19 

20 

1.806 

1.990 

2.191 

2.412 

2.653 

2.918 

3.207 

20 

21 

1.860 

2.059 

2.279 

2.520 

2.786 

3.078 

3.400 

21 

22 

1.916 

2.132 

2.370 

2.634 

2.925 

3.248 

3.604 

22 

23 

1.974 

2.206 

2.465 

2.752 

3.072 

3.426 

3.820 

23 

24 

2.033 

2.283 

2.563 

2.876 

3.225 

3.615 

4  049 

24 

25 

2.094 

2.363 

2.666 

3.005 

3.386 

3.813 

4  292 

25 

26 

2.157 

2.446 

2.772 

3.141 

3.556 

4.023 

4  549 

26 

27 

2.221 

2.532 

2.883 

3.282 

3.733 

4.244 

4. 822 

27 

28 

2.288 

2.620 

2.999 

3.430 

3.920 

4.478 

5.112 

28 

29 

2.357 

2.712 

3.119 

3.584 

4.116 

4.724 

5.418 

29 

30 

2.427 

2.807 

3.243 

3.745 

4.322 

4.984 

5.743 

30 

31 

2.500 

2.905 

3.373 

3.914 

4.538 

5.258 

6.088 

31 

32 

2.575 

3.007 

3.508 

4.090 

4.765 

5.547 

6.453 

32 

33 

2.652 

3.112 

3.648 

4.274 

5.003 

5.852 

6.841 

33 

34 

2.732 

3  221 

3.794 

4.466 

5.253 

6.174 

7.251 

34 

35 

2.814 

3.334 

3.946 

4.667 

5.516 

6.514 

7.686 

35 

36 

2.898 

3.450 

4.104 

4.877 

5.792 

6.872 

8.147 

36 

37 

2.985 

3.571 

4.268 

5.097 

6.081 

7.250 

8.636 

37 

38 

3.075 

3.696 

4.439 

5.326 

6.385 

7.649 

9  154 

38 

39 

3.167 

3.825 

4.616 

5.566 

6.705 

8.069 

9.704 

39 

40 

3.262 

3.959 

4.801 

5.816 

7.040 

8.513 

10.286 

40 

41 

3.360 

4.098 

4.993 

6.078 

7.392 

8.982 

10.903 

41 

42 

3.4G1 

4.241 

5.193 

6.352 

7.762 

9.476 

11.557 

42 

43 

3.5G5 

4.389 

5.401 

6.637 

8.150 

9.997 

12.250 

43 

44 

3.672 

4.543 

5.617 

6.936 

8.557 

10.546 

12.985 

44 

45 

3.782 

4.702 

5.841 

7.248 

8.985 

11.127 

13.765 

45 

46 

3.895 

4.867 

6.075 

7.574 

9.434 

11  739 

14.590 

46 

47 

4.012 

5.037 

6.318 

7.915 

9.906 

12.384 

15.466 

47" 

48 

4.132 

5.213 

6.571 

8.271 

10.401 

13.065 

16.394 

48 

49 

4.256 

5.395 

6.833 

8.643 

10.921 

13.784 

17.378 

49 

60 

4,384 

5.584 

7.106 

9.032 

11.467 

14.542 

18.420 

50 

184 


EXAMPLES   AS   TO   TABLE   L 

$i.oo  will  increase  in  lo  years,  at  3  per  cent,  interest  per 
annum,  compounded,  to  $1.34400.  To  find  the  amount  that  any 
number  of  dollars  will  increase  to  in  10  years,  at  3  per  cent.,  interest 
compounded,  multiply   the   number   of  dollars  by  1.344;    ^^^  instance 

take  $650.00. 

650.00 

i»344 

260000 
260000 
195000 
65000 


$873.60.000 

$873.60  would  be  the  amount. 
Follow  the  same  course  as  to  any  rate  of  interest,  at  the  end 
of  any   number  of  years,  and    multiply   the    number  of  dollars   to   be 
designated  by  the  amount  shown  on  the  table. 

The  relative  effects  of  simple  and  compound  interest  may  be 
well  exhibited  in  the  following  manner.  Money  will  double  itself  at 
varying  rates  of  interest,  as  follows  : — 

At  2%  Simple  Interest  in  50  years.     Compound  Interest  in  35  years. 

3%    " 

3>i%   " 


5% 
6% 
7% 
8% 
9% 


io> 


it 

zz% 

(( 

« 

(( 

2sy2 

(< 

<< 

25 

tt 

(1 

2214! 

ti 

tt 

20 

tt 

<( 

(( 

16^ 

(< 

(( 

<< 

14^ 

tt 

<( 

(( 

I2>^ 

tt 

tt 

II 

tt 

(( 

(( 

10 

tt 

<<             (( 

28 

'<             (( 

23X 

tt             (( 

20^ 

tt             (( 

i7>^ 

tt             (( 

15^ 

tt             tt 

14^ 

tt             tt 

12 

tt             tt 

10^ 

tt             tt 

9 

tt             tt 

8 

tt             *t 

•71/ 

The  difference   ranging  from  fifteen  down  to  about  3  years. 


185 


TABLE  II. 

The  present  value  of  one  dollar  per  annum  to  be  paid  at  the  expiration  of 
each  year,  for  any  number  of  years  not  exceeding  fifty,  discounting  at  the  rate  of 
3,    3)-^,    4,    43^,    5,    51^    and    6    per   cent,    per    annum,    interest   compounded. 


2 

3 

3}i 

4 

A-y2 

5 

5>^ 

6 

CO 

per  cent. 

per  cent. 

per  cent. 

per  cent. 

per  cent. 

per  cent. 

per  cent. 

>« 

1 

.971 

.9662 

.962 

.957 

.952 

.948 

.943 

1 

2 

1.914 

1.8997 

1.886 

1.873 

1.839 

1.846 

1.833 

2 

3 

2.829 

2.8016 

2.775 

2.740 

2.723 

2,698 

2  673 

3 

4 

3.717 

3.6731 

3.630 

3.588 

3.546 

3.505 

3.465 

4 

5 

4.580 

4.5151 

4.452 

4.390 

4.330 

4.270 

4.212 

5 

6 

5.417 

5.3286 

5.242 

5.158 

5.076 

4.996 

4.917 

6 

7 

6.230 

6.1145 

6.002 

5.893 

5.786 

5.683 

5.582 

7 

8 

7.020 

6.8740 

6.733 

6.596 

6.463 

6.335 

6.210 

8 

9 

7.786 

7.6077 

7.435 

7.269 

7.108 

6.952 

6.802 

9 

10 

8.530 

8.3166 

8.111 

7.913 

7.722 

7.538 

7.360 

10 

11 

9.253 

9.0016 

8.760 

8.529 

8.306 

8.093 

7.887 

11 

12 

9.954 

9.6633 

9.385 

9.119 

8.863 

8.619 

8.384 

12 

13 

10.635 

10.3027 

9.986 

9.683 

9.394 

9.117 

8.853 

13 

14 

11.296 

10.9205 

10.563 

10.223 

9.899 

9.590 

9.259 

14 

15 

11.938 

11.5174 

11.118 

10.740 

10.380 

10.038 

9.712 

15 

16 

12.561 

12.0941 

11.652 

11.234 

10.838 

10.462 

10.106 

16 

17 

13.166 

12.6513 

12.166 

11.707 

11.274 

10.865 

10.477 

17 

18 

13.754 

13.1897 

12.659 

12.160 

11.690 

11.246 

10.828 

18 

19 

14.324 

13.7098 

13.134 

12.593 

12.085 

11.608 

11.158 

19 

20 

14.877 

14.2124 

13.590 

13.008 

12.462 

11.950 

11.470 

20 

21 

15.415 

14.6980 

14.029 

13.405 

12.821 

12.275 

11.764 

21 

22 

15.937 

15.1671 

14.451 

13.784 

13.163 

12.583 

12.042 

22 

23 

16.444 

15.6204 

14.857 

14.148 

13.489 

12.875 

12.303 

23 

24 

16.936 

16.0584 

15.247 

14.495 

13.799 

13.152 

12  550 

24 

25 

17  413 

16.4815 

15.622 

14.828 

14.094 

13.414 

12.783 

25 

26 

17.877 

16.8904 

15.983 

15  147 

14.375 

13.662 

13.003 

26 

27 

18.327 

17.2854 

16.330 

15.451 

14.643 

13.898 

13.210 

27 

28 

18.764 

17.6670 

16.663 

15.743 

14  898 

14.121 

13.406 

28 

29 

19.188 

18.0358 

16.984 

16  022 

15.141 

14.333 

13.591 

29 

30 

19.600 

18.3920 

17.292 

16.289 

15.373 

14.534 

13.765 

30 

31 

20.000 

18.7363 

17.588 

16.544 

15.593 

14.724 

13.929 

31 

32 

20.389 

19.0689 

17.874 

16.789 

15.803 

14.904 

14.084 

32 

33 

20.766 

19.3902 

18.148 

17.023 

16.003 

15.075 

14.230 

33 

34 

21.132 

19.7007 

18.411 

17.247 

16.193 

15.237 

14.368 

34 

35 

21.487 

20.0007 

18.665 

17.461 

16.374 

15.391 

14.498 

35 

36 

21.832 

20.2905 

18.908 

17.666 

16.547 

15.536 

14.621 

36 

37 

22.167 

20.6765 

19.143 

17.862 

16.711 

15.674 

14.737 

37 

38 

22.492 

20  8411 

19.368 

18.050 

16.868 

15.805 

14.846 

38 

39 

22.808 

21.1025 

19.584 

18.230 

17.017 

15.929 

14.949 

39 

40 

23.115 

21.3551 

19.793 

18.402 

17.159 

16.046 

15  046 

40 

41 

23.412 

21.5991 

19.993 

18.567 

17.294 

16.157 

15.138 

41 

42 

23.701 

21.8349 

20.186 

18.724 

17.423 

16.263 

15.225 

42 

43 

23.982 

22.0627 

20.371 

18.875 

17.546 

16.363 

15.306 

43 

44 

24.254 

22. 2828 

20.549 

19.019 

17.663 

16.458 

15.383 

44 

45 

24.519 

22.4954 

20.720 

19.157 

17.774 

16.548 

15.456 

45 

46 

24.775 

22.7009 

20.885 

19.289 

17.880 

16  633 

15.524 

46 

47 

25.024 

22.8994 

21.043 

19.415 

17.981 

16.714 

15.589 

47 

48 

25.267 

23.0912 

21.195 

19.536 

18.077 

16.790 

15.650 

48 

49 

25.502 

23.2765 

21.342 

19.651 

18.169 

16.863 

15.708 

49 

50 

25.729 

23.4556 

21.482 

19.762 

18.255 

16.932 

15.762 

50 

186 


EXAMPLES   AS   TO   TABLE   IL 

This  table  shows  the  present  value  of  one  dollar  per  annum  to 
be  paid  at  the  expiration  of  each  year,  in  other  words  the  amount  of 
money  to  be  paid  in  advance  to  secure  the  annual  payment  of  a  required 
sum  of  money  to  such  person  as  may  be  designated,  can  be  defined. 
For  instance  a  person  wishing  to  secure  the  payment  of  $100.00  per 
annum  to  a  certain  other  party  or  to  one's  self,  for  say  10  years,  can 
readily  find  the  amount  to  be  paid  in  advance  to  secure  the  payment 
of  such  annual  payment  or  annuity. 

The  table  shows  the  present  value  of  $1.00  per  annum  to  be  paid 
at  the  end  of  each  year  for  10  years  is  $8.53,  provided  that  amount  is 
placed  where  it  can  earn  3  per  cent,  per  annum  compounded.  In  order 
to  secure  the  payment  of  $100.00  per  annum,  multiply  the  present  value 
of  $1.00  per  annum  by  100: 

8.53 
100 


$853.00 


showing  the  amount  to  be  paid  in  advance,  to  secure  the  payment  of 
annuity  of  $100.00  per  annum  for  10  years,  providing  the  amount  of 
$853.00  is  earning  3  per  cent,  interest  per  annum  compounded. 

If  the  money  should  be  able  to  earn  3^  per  cent,  the  amount 
required  would  be  $831.66,  being  100  times  the  amount  of  the  present 
value  of  $1.00  per  annum  at  3^^  per  cent,  interest,  viz:  $831.66  as 
shown  by  the  table. 

To  find  the  required  amount  for  an  annuity  of  any  amount,  for 
any  number  of  years,  find  the  present  value  of  $1.00  per  annum,  at 
the  rate  of  interest  to  be  allowed  for  the  number  of  years  the  annuity 
is  to  continue  and  multiply  the  same  by  the  amount  of  the  annuity  to 
be  paid. 

In  connection  with  this  table,  reference  can  be  made  to  the 
Carlisle  table  of  expectancy  of  life,  as  it  may  be  advisable  in  paying  an 
annuity  to  take  into  consideration  the  number  of  years  a  party  may  be 
supposed  to  live,  for  instance,  a  person  who  is  30  years  of  age  has 
an  expectaney  of  34  years  and  4  months  of  life,  one  who  is  50  years  of 
age  has  an  expectancy  of  2 1  years  and  i  month  of  life. 


187 


TABLE  III. 

The    annuity   payable    at   the    expiration    of     any    number    of    years    not 
exceeding-    fifty,    that     one    dollar   will   purchase,    interest   compounded   annually 
3,    s}4,    4,    4}4,    5,    51^    and    6    per   cent. 


at 


2 

3 

3>^ 

4 

4>^ 

5 

5^ 

6 

2 

it 

> 

per  cent. 

per  cent. 

per  cent. 

per  cent. 

per  cent. 

per  cent. 

per  cent. 

1 

1 

1.0300 

1.0350 

1.0400 

1.0450 

1.0500 

1.0550 

1.0600 

1 

2 

.5226 

.5264 

.5302 

.5339 

.5378 

.5399 

.5454 

2 

3 

.3535 

.3569 

.3603 

.3650 

.3672 

.3707 

.3741 

3 

4 

.2690 

.272^ 

.2755 

.2787 

.2820 

.2853 

.2886 

4 

5 

.2184 

.2215 

.2246 

.2278 

.2310 

.2342 

.2374 

5 

6 

.1846 

.1877 

.1908 

.1939 

.1970 

.2001 

.2034 

6 

7 

.1605 

.1636 

.1666 

.1697 

.1728 

.1761 

.1791 

7 

8 

.1425 

.1455 

.1485 

.1516 

.1547 

.1579 

.1610 

8 

9 

.1284 

.1314 

.1345 

.1376 

.1407 

.1438 

.1470 

9 

10 

.1172 

.1202 

.1233 

.1264 

.1295 

.1327 

.1359 

10 

11 

.1081 

.1111 

.1141 

.1172 

.1204 

.1236 

.1268 

11 

12 

.1005 

.1035 

.1066 

.1097 

.1128 

.1160 

.1193 

12 

13 

.0940 

.0970 

.1001 

.1033 

.1065 

.1097 

.1130 

13 

14 

.0885 

.0916 

.0947 

.0978 

.1010 

.1043 

.1076 

14 

15 

.0837 

.0868 

.0899 

.0931 

.0963 

.0996 

.1030 

15 

16 

.0796 

.0827 

.0858 

.0890 

.0923 

.0956 

.0990 

16 

17 

.0760 

.0790 

.0822 

.0854 

.0887 

.0920 

.0954 

17 

18 

.0727 

.0758 

.0790 

.0822 

.0855 

.0889 

.0924 

18 

19 

.0698 

.0729 

.0761 

.0794 

.0827 

.0861 

.0896 

19 

20 

.0672 

.0704 

.0736 

.0769 

.0802 

.0837 

.0872 

20 

21 

.0649 

.0680 

.0713 

.0746 

.0780 

.0815 

.0850 

21 

22 

.0627 

.0659 

.0692 

.0725 

.0760 

.0795 

.0830 

22 

23 

.0608 

.0640 

.0673 

.0707 

.0741 

.0777 

.0813 

23 

24 

.0590 

.0623 

.0656 

.0690 

.0725 

.0760 

.0797 

24 

25 

.0574 

.0607 

.0640 

.0674 

.0710 

.0746 

.0782 

25 

26 

.0559 

.0592 

.0626 

.0660 

.0696 

.0732 

.0769 

26 

27 

.0546 

.0579 

.0612 

.0647 

.0683 

.0720 

.0757 

27 

28 

.0533 

.0566 

.0600 

.0636 

.0671 

.0708 

.0746 

28 

29 

.0521 

.0554 

.0589 

.0624 

.0660 

.0698 

.0736 

29 

30 

.0510 

.0544 

.0578 

.0614 

.0651 

.0688 

.0726 

30 

31 

.0500 

.0534 

.0569 

.0604 

.0641 

.0679 

.0718 

31 

32 

.0490 

.0524 

.0559 

.0596 

.0633 

.0671 

.0710 

32 

33 

.0482 

.0516 

.0551 

.0587 

.0625 

.0663 

.0703 

33 

34 

.0473 

.0508 

.0543 

.0580 

.0618 

.0656 

.0696 

34 

35 

.0465 

.0500 

.0536 

.0573 

.0611 

.0650 

.0690 

35 

36 

.0458 

.0493 

.0529 

.0566 

.0604 

.0644 

.0684 

36 

37 

.0451 

.0486 

.0622 

.0560 

.0598 

.0638 

.0679 

37 

38 

.0445 

.0480 

.0516 

.0554 

.0593 

.0633 

.0674 

38 

39 

.0438 

.0474 

.0511 

.0549 

.0588 

.0628 

.0669 

39 

40 

.0433 

.0469 

.0505 

.0543 

.0583 

.0623 

.0665 

40 

41 

.0427 

.0463 

.0500 

.0538 

.0578 

.0619 

.0661 

41 

42 

.0422 

.0458 

.0495 

.0534 

.0574 

.0615 

.0657 

42 

43 

.0417 

.0453 

.0491 

.0530 

.0570 

.0611 

.0663 

43 

44 

.0412 

.0448 

.0487 

.0526 

.0566 

.0608 

.0650 

44 

45 

.0408 

.0444 

.0483 

.0522 

.0563 

.0604 

.0647 

45 

46 

.0404 

.0440 

.0479 

.0518 

.0559 

.0601 

.0644 

46 

47 

.0400 

.0437 

.0475 

.0515 

.0556 

.0598 

.0641 

47 

48 

.0396 

.0433 

.0472 

.0512 

.0553 

.0596 

.0639 

48 

49 

.0392 

.0430 

.0469 

.0509 

.0550 

.0593 

.0637 

49 

50 

.0388 

.0426 

.0466 

.0506 

.0548 

.0590 

.0634 

50 

188 


EXAMPLES  AS  TO  TABLE   IIL 

This  table  shows  amount  of  annuity,  that  a  certain  sum  of 
money,  paid  in  advance,  will  secure  the  payment  of,  annually.  For 
instance,  to  find  the  amount  of  the  annuity  to  be  received  for  lo  years 
by  the  payment  of  $1,500.00.  If  the  money  is  to  be  compounded  at  the 
rate  of  3^  per  cent,  per  annum,  the  table  shows  that  $1.00  will  secure 
the  payment  for  10  years  of  .1202,  multiply  $1,500.00  by  .1202  and  the 
product  will  show  the  annual  payment  to  be  received  for  10  years. 

1,500.00 
.1202 


300000 
300000 
I 50000 

$180.30.0000 


showing  that  $1,500.00,  paid  in  advance,  will  secure  the  payment  of 
$180.30  per  annum,  providing  that  the  money  is  earning  3^  per  cent, 
interest,  per  annum,  compounded.  To  find  the  annuity,  that  any  sum  of 
money  will  pay  annually,  for  any  number  of  years,  find  the  annuity  that 
$1.00  will  yield  at  the  rate  of  interest  to  be  paid,  for  the  number  of  years 
desired,  and  multiply  the  amount  to  be  used,  by  the  same,  and  the 
product  will  show  the  amount  of  the  annual  payment. 


189 


TABLE    IV. 

The    sum    to    which    one    dollar    per   annum,    paid    at   the  beginning    of 

each    year,    will    increase,    at   compound    interest,    in    any    number  of  years    not 

exceeding    fifty,    at    3,   3^,  4,  4^^,   5,   $}4    and    6    per   cent.,    per  annum. 


i 

3 

3y2 

4 

A-'A 

5 

5y2 

6 

CA 

« 
^ 

per  cent. 

per  cent. 

per  cent. 

per  cent. 

per  cent. 

per  cent. 

per  cent. 

i 

1 

1.030 

1.035 

1.040 

1.045 

1.050 

1.055 

1.060 

1 

2 

2.091 

2. 106 

2.122 

2. 137 

2.153 

2.168 

2.184 

2 

3 

3.186 

3.216 

3.246 

3.278 

3.310 

3.342 

3.375 

3 

4 

4.309 

4.362 

4.416 

4.471 

4.526 

4.581 

4.637 

4 

5 

5.468 

5.551 

5.633 

5.717 

5. 802 

5.888 

5.976 

5 

6 

6.663 

6.780 

6.898 

7.019 

7.142 

7.267 

7.394 

6 

7 

7.892 

8.052 

8.214 

8.380 

8  549 

8.722 

8.898 

7 

8 

9.159 

9.368 

9.583 

9.802 

10.027 

10.256 

10.492 

8 

9 

10.464 

10.731 

11.006 

11.288 

11.578 

11.875 

12.181 

9 

10 

11.808 

12.142 

12.486 

12.841 

13.207 

13.583 

13.972 

10 

11 

13.192 

13.602 

14.025 

14.464 

14.917 

15.385 

15.870 

11 

13 

14.618 

15.113 

15.627 

16.160 

16.713 

17.287 

17.882 

12 

13 

16.086 

16.677 

17.292 

17.932 

18.599 

19.292 

20.015 

13 

14 

17.599 

18.295 

19.024 

19.784 

20.579 

21.409 

22.276 

14 

15 

19.157 

19.971 

20.825 

21.719 

22.658 

23.641 

24.673 

15 

16 

20.762 

21.705 

22.698 

23.742 

24.840 

25.996 

27.213 

16 

17 

22.414 

23.499 

24.645 

25.855 

27.132 

28.481 

29.906 

17 

18 

24.117 

25.357 

26.671 

28.064 

29.539 

31.103 

32.760 

18 

19 

25.870 

27.280 

28.778 

30.371 

32.066 

33.868 

35.786 

19 

20 

27.676 

29.269 

30.969 

32.783 

34.719 

36.786 

38.993 

20 

21 

29.537 

31.329 

33.248 

35.303 

37.505 

39.8G4 

42.392 

21 

22 

31.453 

33.460 

35.618 

37.937 

40.431 

43.112 

45.996 

22 

23 

33.427 

35.667 

38.083 

40.689 

43.502 

46.538 

49.816 

23 

24 

35.459 

37.950 

40.646 

43.565 

46.727 

50.153 

53.865 

24 

25 

37.553 

40.313 

43.312 

46.571 

50.114 

53.966 

58.156 

25 

26 

39.710 

42.759 

46.084 

49.711 

53.669 

57.989 

62.706 

26 

27 

41.931 

45.291 

48.968 

52.993 

57.403 

62.233 

67.528 

27 

28 

44.219 

47.911 

51.966 

56.423 

61.323 

66.711 

72.640 

28 

29 

46.575 

50.623 

55.085 

60.007 

65.439 

71.435 

78.058 

29 

30 

49.003 

53.429 

58.328 

63.752 

69.761 

76.419 

83.802 

30 

31 

51.503 

56.335 

61.702 

67.666 

74.299 

81.677 

89.890 

31 

32 

54.078 

59.341 

65.210 

71.756 

79.064 

87.225 

96.343 

32 

33 

56. 730 

62.453 

68.858 

76.030 

84.067 

93.077 

103.184 

33 

34 

59.462 

65.674 

72.652 

80.497 

89.320 

99.25L 

110.435 

34 

35 

62.276 

69.008 

76.598 

«5.164 

94.836  • 

105.765 

118.121 

35 

36 

65.174 

72.458 

80.702 

90.041 

100.628 

112.637 

126.268 

36 

37 

68.159 

76.029 

84.970 

95.138 

106.710 

119.887 

134.904 

37 

38 

71.234 

79.725 

89.409 

100.464 

113.095 

127.536 

144  059 

38 

39 

74.401 

83.550 

94.026 

106.030 

119.800 

135.606 

153.762 

39 

40 

77.663 

87.510 

98.827 

111.847 

126.840 

144  119 

164.048 

40 

41 

81.023 

91  607 

103.820 

117.925 

134.232 

153.101 

174.951 

41 

42 

84.484 

95.848 

109.012 

124.277 

141.993 

162.577 

186.508 

42 

43 

88.048 

100  238 

114.413 

130.914 

150.143 

172.574 

198.758 

43 

44 

91.720 

104.781 

120.029 

137.850 

158.700 

183.121 

211.744 

44 

45 

95.502 

109.483 

125.871 

145.098 

167.685 

194.248 

225.508 

45 

46 

99.396 

114.350 

131.945 

152.672 

177.119 

205.987 

240.099 

46 

47 

103.408 

119.387 

138.263 

160.587 

187.025 

218.371 

255.565 

47 

48 

107.541 

124. 600 

144.834 

168.858 

197.427 

231  436 

271.958 

48 

49 

111.797 

129.996 

151.667 

177.502 

208.348 

245.220 

289.336 

49 

50 

116.181 

135.581 

158.774 

18G.535 

219.815 

259.762 

307.756 

50 

190 


EXAMPLES   AS   TO   TABLE   IV. 

This  table  shows  the  accumulations  of  $i.oo  per  annum,  paid  at 
the  beginning  of  each  year,  when  compounded  at  the  rate  of  3,  3^,  4, 
4/^,  5,  5/^,  or  6  per  cent,  interest  per  annum.  From  the  table  as 
given,  calculations  can  be  made  whereby  the  amount  to  be  paid  annually 
can  be  arrived  at,  for  the  accumulation  in  any  number  of  years  for  a 
required  sum.  For  instance,  suppose  a  corporation  desires  to  issue 
bonds  in  the  amount  of  $50,000.00,  payable  in  20  years;  they  stipulate 
in  the  bond  that  a  certain  amount  will  be  yearly  deposited  with  a  Trust 
Company,  which  will  in  20  years  amount  to  $50,000.00.  If  the  Trust 
Company,  agrees  to  receive  this  annual  contribution  and  allow  3  per 
cent,  interest  thereon,  the  amount  of  the  annual  contribution  is  found 
by  looking  at  the  table  for  the  amount  of  $1.00  annually  at  3  per  cent, 
interest  for  20  years.  The  table  shows  this  amount  to  be  $27,676, 
dividing  $50,000.00  by  27.676;  the  quotient  will  be  the  amount  of  the 
annual  contribution. 

27.676)50,000.00.000(1,806.61 
27676 
223240 
221408 


183200 
166056 


171440 
166056 

53840 
27676 


The  annual  contribution  of  $1,806.61  for  20  years  will  amount  to 
$50,000.00,  if  it  earns  3  per  cent,  interest,  per  annum,  compounded. 
In  round  numbers  an  annual  contribution  of  $1800.00  would  be  close 
enough  to  reach  the  full  amount  at  maturity,  the  deficiency,  about 
$180.00,  being  made  up  in  the  last  contribution. 

If  an  annual  contribution  to  any  other  amount  of  principal  to  run 
any  number  of  years  is  desired,  the  amount  is  found  by  dividing  the 
amount  of  principal  by  the  accumulations  of  $1.00  per  annum  at  such 
rate  of  interest  to  be  allowed  for  the  number  of  years  the  sinking  fund 
is  to  run. 


191 


EXAMPLES   AS   TO   TABLE   IV. 

If  a  party  has  a  mortgage  of  say  $4,000.00,  which  he  desires  to 
pay  off  in  10  years,  he  can  accumulate  the  amount  by  making  deposits 
yearly  in  savings  banks,  the  rate  paid  at  present  is  3^  per  cent,  per 
annum,  but  the  total  to  be  reached  would  not  be  allowed  interest  in  any 
one  bank,  the  annual  deposits  could  be  divided  by  3  and  deposited  in 
three  separate  banks. 

To  find  the  amount  of  the  annual  contribution  refer  to  the  table 
of  $1.00  per  annum  at  3^  per  cent,  for  10  years,  the  amount  is  $12,142, 
divide  $4,000.00  by  12.142  and  the  quotient  will  be  the  amount  of  the 
annual  contribution. 

12.142)4,000,00.000(329.43 
36426 

35740 
24284 


1 14560 
109278 
52820 
48568 
42520 
36426 

By  making  annual  deposits  in  three  savings  banks  of  the  sum  of 
$329.00,  divided  into  2  deposits  of  $110.00,  and  one  of  $109.00,  allow- 
ing 2f%  per  cent,  interest,  is  credited  semi-annually,  the  total  amount  on 
deposit  at  the  expiration  of  10  years  will  be  about  $4,007.00,  being 
equal  to  $1,335.50  in  each  of  the  savings  banks. 

A  party  wishing  to  put  aside  monthly  a  sum  of  money  can  find 
how  much  it  would  amount  to  in  any  number  of  years.  For  instance, 
a  deposit  of  $10.00  per  month  in  a  savings  bank  paying  33^  per  cent, 
interest,  per  annum,  would  in  6  years  amount  to  $813.60.  This  is 
shown  by  referring  to  the  table  for  the  accumulations  of  $1.00  per  year 
at  3^  per  cent.,  for  6  years,  which  is  $6,780;  multiply  $120.00,  the 
amount  deposited  annually  by  6.780,  and  the  answer  is  $813.60. 


193 


EXAMPLES   AS   TO   TABLE   \M— Continued. 

A  further  use  of  the  table  can  be  made  in  the  case  of  purchasing 
a  leasehold  property,  the  lease  of  which  expires  in  a  given  number  of 
years.  For  instance,  a  lease  costs  $10,500.00,  which  amount  is  to  be 
paid  in  advance,  the  lease  having  12  years  to  run.  In  order  to  find  how 
much  rent  is  necessary  to  pay  a  profit  on  the  investment,  a  calculation 
should  be  made  as  to  the  taxes  to  be  paid,  the  expense  of  repairs,  etc., 
the  amount  of  ground-rent  to  be  paid,  and  then  from  the  rents  set  aside 
an  annual  amount,  which,  at  the  expiration  of  the  lease,  will  equal  the 
cost  of  the  leasehold,  the  balance  will  be  the  profit  on  the  investment. 
The  amount  of  the  sinking  fund  to  be  set  aside  annually  to  equal  the 
total  paid  for  the  lease ;  is  found  by  referring  to  the  table  under  the 
amount  of  $1.00  per  year  for  12  years,  at  the  interest  to  be  earned,  as 
this  can  be  deposited  in  savings  banks  the  rate  can  be  taken  as  3^^  per 
cent.  The  table  shows  the  increase  of  $1.00,  per  annum,  deposited  at 
the  commencement  of  the  year,  so  that  the  amount  shown  on  the  table 
•would  not  properly  represent  deposits  that  were  made,  say,  monthly; 
a  fair  calculation  would  be  the  average  between  1 1  and  1 2  years ;  the 
amount  of  $1.00  per  annum,  at  3^  per  cent.,  as  shown  by  the  table  for 
1 1  years,  is  $13,602,  and  for  12  years  is  $15.1 13,  a  difference  of  $1.51 1  ; 
taking  one  half  of  1.5 11  and  adding  it  to  $13,602  would  make  $14,357, 
which  would  be  a  fair  calculation  of  the  increase  of  $1.00  per  annum 
for  12  years.  Divide  the  $10,500.00  by  14  357  and  the  quotient  will  be 
the  amount  to  be  deposited  annually  to  equal  the  total  of  $10,500.00  at 
the  expiration  of  1 2  years. 


198 


TABLE  IV — Continued, 


i4357)io,  500.00.000(73 1.35 
100499 
45010 
43071 


19390 
14357 


50330 
43071 
72590 

71785 


In  a  case  like  the  above,  a  deposit  of  $60.00  per  month  would  in 
12  years  amount  to  about  $10,622.00,  allowing  3^/^  percent,  interest  per 
annum,  to  be  compounded  semi-annually.  As  a  further  exemplification 
of  the  above,  the  following  supposed  amounts  for  rents  received  and 
disbursements  made  should  show  the  net  results  under  such  circum- 
stances. 


Kent  per  year, 

Ground  rent, 

$900.00 

Taxes, 

550.00 

Collectmg,  etc. 

200.00 

Repairs, 

200.00 

Sinking  fund, 

720.00 

$3,600. 


00 


2,570.00 


Net  income  per  annum,  $1,030.00 

or  nearly  9  Y.^  per  cent,  on  the  investment  of  $10,500.00 


194 


TABLE  V. 

The  present  value  of  one  dollar  due  at  the  end  of  any  number  of  years  not 
exceeding  fifty,  discounted  at  the  rates  of  3,  3^/^,  4,  4^,  5,  5^  and  6  per  cent,  per 
annum,  compound  interest. 


2 

3 

avz 

4 

4>^ 

5 

5/2 

6 

i 

per  cent. 

per  cent. 

per  cent. 

per  cent. 

per  cent. 

per  cent. 

per  cent. 

1 

1 

.9709 

.9662 

.9615 

.9569 

.9524 

.9479 

.9434 

1 

2 

.9426 

.9335 

.9246 

.9157 

.9070 

.8984 

.8900 

2 

3 

.9151 

.9019 

.8890 

.8763 

.8638 

.8516 

.8396 

3 

4 

.8885 

.8714 

.8548 

.8386 

.8227 

.8072 

.7921 

4 

5 

.8626 

.8419 

.8219 

.8025 

.7835 

.7651 

.7473 

5 

6 

.8375 

.8134 

.7903 

.7679 

.7462 

.7252 

.7050 

6 

7 

.8131 

.7859 

.7599 

.7348 

.7107 

.6874 

.6651 

7 

8 

.7894 

.7593 

.7307 

.7032 

.6768 

.6516 

.6274 

8 

9 

.7664 

.7336 

.7026 

.6729 

.6446 

.6176 

.5919 

9 

10 

.7441 

.7088 

.6756 

.6439 

.6139 

.5854 

.5584 

10 

11 

.7224 

.6848 

.6496 

.6162 

.5847 

.5549 

.5268 

11 

12 

.7014 

.6616 

.6246 

.5897 

.5568 

.5260 

.4970 

12 

13 

.6810 

.6392 

.6006 

.5643 

.5303 

.4986 

.4688 

13 

14 

.6611 

.6176 

.5775 

.5400 

.5051 

.4726 

.4423 

14 

15 

.6419 

.5967 

:5553 

.5167 

.4810 

.4479 

.4173 

15 

16 

.6232 

.5765 

.5339 

.4945 

.4581 

.4246 

.3936 

16 

17 

.6050 

.5570 

.5134 

.4732 

.4363 

.4024 

.3714 

17 

18 

.5874 

.5382 

.4936 

.4528 

.4155 

.3815 

.3503 

18 

19 

.5703 

.5200 

.4746 

.4333 

.3957 

.3616 

.3305 

19 

20 

.5537 

.5024 

.4564 

.4146 

.3769 

.3427 

.3118 

20 

21 

.5375 

.4854 

.4388 

.3968 

.3589 

.3249 

.2942 

21 

23 

.5219 

.4690 

.4220 

.3797 

.3418 

.3079 

.2775 

22 

23 

.5067 

.4531 

.4057 

.3633 

.3256 

.2919 

.2618 

23 

24 

.4919 

.4378 

.3901 

.3477 

.3101 

.2767 

.2470 

24 

25 

.4776 

.4230 

.3751 

.3327 

.2953 

.2622 

.2330 

25 

26 

.4637 

.4087 

.3607 

.3184 

.2812 

.2486 

.2198 

26 

27 

.4502 

.3950 

.3468 

.3047 

.2678 

.2356 

.2074 

27 

28 

.4371 

.3816 

.3335 

.2916 

.2551 

.2233 

.1956 

28 

29 

.4243 

.3687 

.3207 

.2790 

.2429 

.2117 

.1846 

29 

30 

.4120 

.3562 

.3083 

.2670 

.2314 

.2006 

.1741 

30 

31 

.4000 

.3442 

.2965 

.2555 

.2204 

.1902 

.1643 

31 

32 

.3883 

.3326 

.2851 

.2445 

.2099 

.1803 

.1550 

32 

33 

.3770 

.3214 

.2741 

.2340 

.1999 

.1709 

.1462 

33 

34 

.3660 

.3105 

.2636 

.2239 

.1904 

.1620 

.1379 

34 

35 

.3554 

.3000 

.2534 

.2143 

.1813 

.1535 

.1301 

35 

36 

.3450 

.2899 

.2437 

.2050 

.1727 

.1455 

.1227 

36 

37 

.3350 

.2801 

.2343 

.1962 

.1644 

.1379 

.1158 

37 

38 

.3252 

.2706 

.2253 

.1877 

.1566 

.1307 

.1092 

38 

39 

.3158 

.2615 

.2166 

.1797 

.1491 

.1239 

.1031 

39 

40 

.3066 

.2527 

.2083 

.1719 

.1420 

.1175 

.0972 

40 

41 

.2976 

.2441 

.2003 

.1646 

.1353 

.1114 

.0917 

41 

42 

.2890 

.2359 

.1926 

.1575 

.1288 

.1056 

.0865 

42 

43 

.2805 

.2279 

.1852 

.1507 

.1227 

.1001 

.0816 

43 

44 

.2724 

.2202 

.1780 

.1442 

.1169 

.0949 

.0770 

44 

45 

.2644 

.2128 

.1712 

.1380 

.1113 

.0901 

.0727 

45 

46 

.2567 

.2056 

.1646 

.1321 

.1060 

.0854 

.0685 

46 

47 

.2493 

.1986 

.1583 

.1264 

.1009 

.0809 

.0647 

47 

48 

.2420 

.1919 

.1522 

.1210 

.0961 

.0767 

.0610 

48 

49 

.2350 

.1854 

.1463 

.1157 

.0916 

.0727 

.0575 

49 

50 

.2281 

.1790 

.1407 

.1107 

.0872 

.0689 

.0543 

50 

195 


EXAMPLES   AS   TO   TABLE  V. 

This  table  shows  the  amount  of  money  to  be  paid  in  advance  to 
secure  the  payment  of  a  certain  amount  at  the  expiration  of  a  certain 
number  of  years.  For  instance,  a  party  wishes  to  secure  the  payment  of 
$1,500.00  to  another  person  at  the  expiration  of  10  years,  the  amount  to 
be  paid  in  advartce  in  such  a  case  can  be  deposited  in  Savings  Banks 
where  it  will  earn  3)^  per  cent  per  annum. 

The  table  shows  that  at  3^  per  cent.,  interest  compounded,  .7088 
will,  in  10  years,  equal  $1.00.  Multiply  $1,500.00  by  .7088,  and  the 
product  will  show  the  amount  to  be  deposited  which  will  equal  $1,500.00 
at  the  expiration  of  10  years,  providing  it  earns  3^  per  cent,  interest  per 
annum. 

'  1500.00 

.7088 


1 200000 
1 200000 
10500000 
$  1.063.20.0000 

showing  $1,063.20  to  be  the  amount  that  will  increase  to  $1,500.00  in 
10  years,  at  3^^  per  cent,  interest  per  annum.  As  Savings  Banks  do 
not  wish  to  receive  more  than  about  $500.00  on  deposit  at  one  time,  the 
amount  can  be  divided  and  deposited  in  3  different  banks,  $354.00 
deposited  in  each  of  3  Savings  Banks  that  will  pay  3^  per  cent,  per 
annum,  compounded  semi-annually,  will  aggregate  at  the  expiration  of 
10  years  a  little  over  $1,500.00. 

To  find  any  other  amount,  follow  the  above,  as  to  the  amount  to 
be  reached  in  a  certain  number  of  years  at  a  certain  rate  of  interest. 


OrTH£     '^    ^ 

^NIVER3/TY 


196 


b 


m:^-^ 


'^^s.^ 


^t  02700 


Zl^'T  I 


.  E3G-7 


